Coffee Futures prices today - Arabica coffee prices outlook august 21 2015 : Arabica
coffee prices on the ICE Futures exchange ended the New York trading on
Wednesday, 20 august 2015 and recorded a sharp decline (20/8). ICE arabica coffee futures prices turned down and closed at the lowest position in the past 1.5 weeks. Positive sentiment that occurred earlier in the week failed maintained.
Fundamentally, especially in terms of supply, the price of ICE arabica coffee was coined potential to continue rising. Drought in Brazil has the potential to lead to disruption of supply of arabica coffee from the country.
However, data supply gives a negative image. Noted that the supply of certified increased significantly and reached 2.086 million bags. This increase in supply put pressure down on the price of the commodity.
The price of Arabica coffee futures for most active September contract closed down sharply. Prices ended in the position of 1.3115 dollars, down 4.15 cents, equivalent to 3.07 percent. On the last night trading price fell to the lowest level since August 10 last.
We estimates that the price movement of Arabica coffee futures on ICE Futures US in New York at the next trade is still in a bearish pattern, although still weak.The price of Arabica coffee futures on ICE Futures US in New York has the potential to test the strong support level at 1.2698 dollar positions and 1.2400 dollar. While the level of resistance that will face if there is no further rise in the position of 1.3898 dollar and 1.4000 dollar.
Fundamentally, especially in terms of supply, the price of ICE arabica coffee was coined potential to continue rising. Drought in Brazil has the potential to lead to disruption of supply of arabica coffee from the country.
However, data supply gives a negative image. Noted that the supply of certified increased significantly and reached 2.086 million bags. This increase in supply put pressure down on the price of the commodity.
The price of Arabica coffee futures for most active September contract closed down sharply. Prices ended in the position of 1.3115 dollars, down 4.15 cents, equivalent to 3.07 percent. On the last night trading price fell to the lowest level since August 10 last.
We estimates that the price movement of Arabica coffee futures on ICE Futures US in New York at the next trade is still in a bearish pattern, although still weak.The price of Arabica coffee futures on ICE Futures US in New York has the potential to test the strong support level at 1.2698 dollar positions and 1.2400 dollar. While the level of resistance that will face if there is no further rise in the position of 1.3898 dollar and 1.4000 dollar.
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