USA: Arabica coffee jumps more than 5% on ICE, raw sugar retreats

게시됨 2022년 12월 12일

Tridge 요약

ICE arabica futures saw a surge of over 5% on Monday, rebounding from a three-week low, driven by a technical recovery that was further aided by a decline in sugar prices. The increase in arabica futures was attributed to the market reaching low points and the anticipation of a recovery. Despite concerns about the future of Brazil and Colombia's coffee crops, the rising stocks in exchanges might limit the potential gains. Meanwhile, Brazil's green coffee exports experienced a 19% increase in November. In contrast, the sugar market saw a slight decline due to higher-than-expected Brazilian sugar production in the latter half of November, alongside the expectation of improved global trade flows, which could lead to a decrease in sugar prices.

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원본 콘텐츠

NEW YORK/LONDON (Reuters) - ICE arabica futures rose more than 5% on Monday on a technical rebound from a three-week low touched earlier in the session as sugar prices fell. COFFEE * March arabica closed up 8.9 cents, or 5.6%, at $1.6705 a pound, rebounding from a three-week low of $1.5455. * Dealers say the market is ripe for a technical recovery. * “My guess is it was technically driven,” said a US coffee broker. “The market has run low. We were behind on a recovery,” he added. * Dealers also say there continue to be concerns about the outlook for next year's crops in Brazil and Colombia, although rising stocks on exchanges are likely to limit gains. * ICE certified coffee rose to 705,572 bags on Monday. There were 346,198 bags pending sorting. * Meanwhile, Brazilian exports of green coffee jumped 19% in November, according to the Cecafé sector exporters council. * March Robusta coffee rose $20, or 1.1%, to $1,884 a tonne. SUGAR * March raw sugar fell 0.22 cents, or 1.1%, to ...

출처: Mixvale