Softs traders focused on Arabica Coffee as it powers 1.11% higher

After closing the previous trading day at $180.3, Coffee is up to $182.3 per pound, which makes for a move of 1.11%/$2 today.

At the same time, United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.635, while the previous figure was 4.073.

A look at other Softs also shows upside as Sugar increases 0.77% to trade around $21.03.

Meanwhile, Cotton is down to $82.7, losing $2, after closing at $84.71 in the preceding trading session. Cocoa is down $38 from the beginning of the session and now trades around $2,753.

Also worthy of note, as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 395,000, following on from the preceding figure of 1.17 million. New data is set to be published today at 15:30 UTC.

Elsewhere, United States ADP Nonfarm Employment Change (Feb) is scheduled for today at 13:15 UTC. United States JOLTs Job Openings (Jan) will be released today at 15:00 UTC.

Arabica Coffee hit a significant low of $151.1 around a month ago, but has since recovered 19.32%.