World Market:May 23-Jun13, 2019

摘要

World coffee futures ended with slight gains in the period under review amid huge volatility. The front-month July contract ended up 3.850 at 97.350/lb, while the most-active September contract gained 3.950 to 99.750/lb. The July contract dropped 6.2%on a single day last week, following several weeks of price gains that culminated in the contract hitting a four-month high of 106.150/lb on June 4. That rally had been driven by speculative short-covering against the backdrop of concerns about cold weather in top grower Brazil as well as a recovery in the country's currency to its strongest against the US dollar since April. Of course, the eventual sell-off accelerated after prices fell below technical stops.