Flashes
8746 views September 2, 2013 posted by Maja Wallengren

MARKET INSIGHT: Calm Before Storm? Arabica Coffee Market Closed For Trading Labor Sep 2

  Share...
vintage-coffee-ads-4

SEP 2 (SpillingTheBeans)–September Arabica coffee prices did not trade Monday as the ICE futures exchange in New York was closed for Sep 2 Labor Day holiday. But a trader told SpillingTheBeans that traders would be particularly observant to the opening on Tuesday as there was a “certain feeling of calm before the storm” where prices can move in any direction. The ICE market continues to be in a tug of war over direction, with the bull side convinced there is too many weather problems affecting the new 2013-14 harvest in producing countries, arguing that current prices below the cost of production will prevent a sustainable source of supply in the nearby and medium-term future. But the bear side argues that demand is well covered for now, that there is little of no technical justification for prices to move higher and the market has in recent weeks been leaning on the bear argument. September Arabica coffee prices tested fresh 4-year lows on Friday, settling down 1.05 cents at $1.1210 per pound while more forward and active December futures settled down 1.35 cent at $1.1630/lb.

***

As always, we welcome your comments!heart

  Share...

Share This Article

5 Comments

  • When someone writes an article he/she retains the idea of a user in his/her brain that how a user can be aware of it.

    Thus that’s why this piece of writing is great.
    Thanks!

  • Ridiculous story there. What happened after? Good luck!

    • Sorry you feel that way but here at Spilling The Beans we embrace the right to agree to disagree. From all the comments I have received on this story, and the multiple times it was re-tweeted, it would appear a lot of people disagree with you 🙂

  • Every after inside a while we opt for blogs that we read. Listed beneath are the latest web pages that we choose.

  • Wonderful story, reckoned we could combine a number of unrelated data, nevertheless seriously worth taking a look, whoa did 1 discover about Mid East has got more problerms as well.

Leave a Reply to Google Cancel reply

Your email address will not be published.