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Daily Market Report


Exchange Rates :
USD : 49.55

London
(Dollar per ton)
28 November 2008
Close Change Open High Low Previous Volume
January 1969 -46 2016 2035 1967 2015 5347
March 1785 -20 1805 1826 1762 1805 1744
May 1809 -18 1837 1842 1797 1827 641
July 0 +0 0 0 0 0 0
September 0 +0 0 0 0 0 0
November 1971 +0 1971 1971 1971 1971 0
LONDON COFFEE REVIEW :
Liffe Coffee Pressured Dn By Stronger Dollar.

Liffe robusta coffee trades lower as commodities come under pressure from a stronger dollar. "There's some month-end book squaring," says London-based broker. Adds the market's moving on small volumes of activity. January -$46, or 2.3%, at $1,969/ton.

Volume :  7,732 LOTS
 
New York
(USC per ton)
28 November 2008
Close Change Open High Low Previous
December 114.10 +0.00 114.10 114.10 114.10 114.10
March 116.10 -0.20 117.50 117.50 114.90 116.30
May 118.60 -0.40 119.00 120.05 117.30 119.00
July 120.80 -0.80 122.30 122.65 120.00 121.60
September 0.00 +0.00 0.00 0.00 0.00 0.00
NEW YORK COFFEE REVIEW :
Eases; Gains Erased As Dollar Rises.

Arabica coffee futures ended weaker on ICE Futures U.S. Friday in abbreviated, post-holiday trading as the market retreated from a 1 1/2-week high touched early. Longs liquidated when the dollar climbed.March arabica coffee settled 20 points lower at $1.1610 a pound and May lost 40 points to $1.1860. "We tried the upside but couldn't hold onto early gains," a New York desk trader said in late action. "The dollar's stronger and that's weighing on coffee, other commodities and the CRB Index. It's been slow today and thankfully we're closing early." A firmer dollar against the Brazilian real usually encourages Brazilian producers to sell since they get more for their beans in the local currency. The Dow Industrials were lower in early action but turned higher. The CRB Index recovered from weaker, morning levels. ICE futures volume at 1:30 p.m. EST was estimated at 8,954 lots, and in options, 1,393 calls and 613 puts traded, the exchange said. ICE's regular and after-hours coffee sessions closed early at 1:00 pm EST Friday. At mid morning, another New York desk trader said "we were up early, but drifted back down and held expected support" at $1.1530 in March for awhile. "It's the end of the month. Everyone's got skeleton crews and it's quiet the day after Thanksgiving." Brazil from Nov. 1-27 exported 2,378,696 60-kilogram bags, exceeding 2,017,342 in the same October span, the Green Coffee Exporters Council said. Brazil's developing crop is slated for mostly dry weather, with a few showers in the southwest to Saturday, followed by scattered showers - heavier in the northeast - to Monday. Continuous rain has slowed Vietnam's harvest, which is expected to be at least 10% larger than last season. Roasters are well supplied to meet peak winter demand in North America and Europe, traders said. Another 5 ICE Dec notices were posted Friday, bringing the total to 5,142 to date. ICE March finds support at $1.1490-$1.1485, $1.1475-$1.1465, $1.1450, $1.1430 and $1.1415, with resistance at $1.1750, $1.1775-$1.1785, $1.1790, $1.18 and $1.1840.

Volume :  8,954 LOTS - OPTIONS : 2,008 LOTS
 
Exchange Rates :
USD : 49.55


 
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