Comentário Semanal / Week Comentary

The Arabica coffee maturity May/11 ended with 1.315 points higher on the week working in the range of 1.880 points, making the minimum at 269,85 and maximum at 288.65, closing
quoted at 288.10 on Friday, with 570 points positive. Marked by a further session of extreme volatility, the coffee price began this week in a downward trend, scoring at the first session
the lowest level 269.85. Without continue the movement large scale purchases volume was observed in subsequent sessions, aimed primarily the 270,00 resistance, and still driven by
specs purchases, the next main objective at 275.00. Without missing a strong bullish move, stops and volume scale, marked new heights of movement, winning in three sessions just
over 1,200 points, making the maximum of the week at 288.65, closing the period with a slight drop at 288,10. According to GCA, the green coffee stocks shows an increase of 104.306
bags, totallazin 4.232.153 bags. According to Cecafé, April (from 01st to 14th) coffee shipments totalized 944.415 bags, an increase of 26,7% compared to the previous month.

A good arbitrage volume was seen this week as: U/U between 18.00 and 21.00 under, U/Z between 19.00 and 23.50 under, z/z between 21.50 and 23.20 under, z11 / h12 between 22.00
and 24,00 under, u12/u12 between 24.00 and 27,00 under and u12/z12 between 23.00 and 25.00 under.

The coffee futures in New York closed 1.325 points higher. Observed this week over an upward movement starting in 270.00 cents, 40-day moving average, which led the market up from 290.00 cents jul11 basis. Purchases of funds and speculators were responsible for the rise in prices throughout this week. Major support at 290.00 cents and then at 285.00 cents
and main resistance at 295.00 cents and then at 298.15/300,00 base mar11.