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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
COMMODITIES
- Coffee: front month futures is currently testing its 155 resistance, which represents January 2017 high; a break above that level would open the door for a move up to 176 (November 2016 highs). Supports to watch on the downside stand at 150, followed by 137.40.
- As a reminder, even though Brazil accounts for 15.1% of total coffee exports (followed by Columbia 8.7%), it still represents 'only' 2% of total Brazil exports (estimated at 230bn annually USD pre Covid).
- Exports are led by soybeans, crude petroleum and iron ore, all accounting for approximately 10% (each) of total exports.
- Risk premium on BRL remains elevated as the rising economic and political uncertainty has been offsetting the strong momentum in commodities.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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