COFFE: Week Comentary

The Arabica coffee maturity May/11 ended with 1.805 points higher on the week working in the range of 2.175 points, making the minimum at 254,15 and maximum at 275.90, closing quoted at 273.00 on Friday, with 415 points positive. In another week of extreme volatility, the coffee price acted in a significant uptrend.

Reaching right on Monday the minimum at 254.15, on strong purchase scale were noted, moving the grain, in subsequent sessions, to break the major resistance,when, at first sought the 265,00 / 266,75 levels. Without lose breath, speculative buying, coupled with strong purchase stops activation, the commodity at this Friday session,whey at the opening hours marked the maximum at 270.00, colliding with soft sales.

During the day, the lack of sales scale, motivated gave more appetite to the market to reach the higher 13 years levels, priced at 275.90. With strongest sales close to the settlement, the coffee closed the week quoted at 273.00. According to CGA, the green coffee stock increased 70.782 bags, totalizing 4.045.000 bags. On this second march coffee delivery period in NY, has no delivery notices.

According to Cecafé, February (from 01stto 17th) coffee shipments totalized 1.123.781 bags, an increase of 42,1% compared to the previous month.Good to rememberthat on this next Monday the New York exchange will be closed by the national holiday.

A moderated arbitrage volume was seen this week as: H/H between -8.00 and +1.00, H/K between -11.00 and 0.00, U/U between 15.00 and 19.00 under and U/Z between 13.50 and 16.00 under.

The coffee futures in New York closed up 1.805 points. After a short and quick technical correction, the market registered a strong reaction. New high was reached in this upward movement with little trading volume. The closing on Friday, almost in the day\’s high, lets believe that new highs will be reached next week. Major support at 270.00 cents and then at 268.00 cents and main resistance at 275.90 cents and then at 280.00 base mar11.