Home Markets News Weather

Keep A Close Eye On Coffee

« Go Back

Source: Getty Images

Coffee Futures---Coffee futures in the December contract is currently trading at 111.65 a pound as prices continue to hover right near a 14 year low as I do believe the 100 level will hold as I'm looking at a possible bullish position once the risk/reward become more in your favor as I will not go short as I think the downside is very limited.

Coffee prices are trading below their 20 and 100 day moving average as the trend is lower to mixed as I would like to see this market trade down to the 105 level while then keeping a close eye on the possible bullish position so be patient as I still think there's a little weakness ahead. Demand concerns continue to weigh on coffee prices as a resurgence of the global

Covid pandemic may prompt countries to re-impose lockdowns that curb economic growth and coffee consumption. Coffee prices remain on the defensive on signs of bigger coffee supplies as well after Conab on Tuesday said it sees Brazil 2020 arabica coffee output at 47.4 mln bags, up +38% y/y and above a previous estimate of 46 mln bags. At the current time I do not have any soft commodity recommendations as these markets remain choppy, however I think once the U.S election is finished the bullish trends will arrive once again.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com


Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

« Go Back

Real-time Login
     Get Real-time Data
Edit Preferences      Refresh:   On   Off