This week should be a quiet week for green coffee. It is a short week and many traders are on vacation.
Today, March closed down 55 points at 1.1915. For the ten past trading days coffee has traded in probably the narrowest range all year – 1.2150 to 1.1750, only 400 points – with a daily trading range of only 300 points. As a contrast during the past year we have seen daily swings of 600 to 800 points. As the ten day trading range narrows the 40 and 60 day averages start to flatten out, but the market is still trading below these averages.
There is not much coffee news, but I have attached a coffee report from the USDA. Included with the report is a list of the marketing years for producing countries and their annual output over the past five years
May all of you have a Happy and Prosperous New Year.
See you again in 2016!!!