Coffee Prices End The Week Higher

19 Oct in Blog, Cocoa futures, coffee futures trading, commodity trading, cotton futures, lumber futures, Michael Seery, orange juice futures, Seery Futures.com, sugar futures

Coffee Futures--- Coffee futures in New York Friday afternoon settled up 250 points currently trading at 161.10 a pound in the December contract still hovering right near contract lows which happened on June 18th of this year at 153.70 and still far below its 20 day and 100 day moving average. Coffee prices have been in a solid decline over the last several weeks due to a high surplus in supply as well as slowing economies around the world causing demand to diminish with major support on the daily chart at the 155 level and the last two occasions prices went down to those price levels a significant rally occurred sending prices back up into the low 180s. Today was a bad day for the commodity and stock markets, however many of the soft commodities including coffee and sugar were sharply higher after having a poor week coming into today with coffee finishing up about 200 points for the trading week. Coffee volatility at this point is pretty low historically and I believe you will start to see much higher volatility in the next coming weeks especially coming into the next growing season which always seems to put some price premium just in case of a poor crop or a devastating freeze. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading or visit www.seeryfutures.com

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