Market Reports Blog / Market Reports / Coffee Market Report 10th to 14th February 2014

Coffee Market Report 10th to 14th February 2014

COFFEE MARKET NEWS 10th February – 14th February 2014

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-14 c/lb

136.20

137.15

141.05

139.70

139.90

Lon Mar-14 $/t

1796

1813

1822

1824

1810

£/$

1.6406

1.6445

1.6578

1.6648

1.6775

 

Futures Markets:

Arabica: NY maintained altitude throughout this week but Friday still became an inside day within Thursday’s broader limits. This doesn’t merit a blaring alarm but does illuminate a small warning light as the wheels have started to spin in the mid 140’s.

Robusta: It was a dull end to a dramatic week with May finishing just above the mid-point of the range (1740-1841). Industry had good opportunities to buy weakness origin used rallies to reduce long exposure on several rallies. New York is closed next Monday so it should be a quiet day’s trading with 1790 to 1830 likely to contain most of the trading range.

Currency: On the FX markets, GBP/USD made further gains pushing above the $1.67 level to a high of $1.6755 in trading on Friday. The positive Euro-zone GDP data saw EUR/USD rise to $1.3715 before easing.

Physical Markets:

Brazil: Hot, dry weather is finally forecast to give way to heavy widespread rains from Feb. 16 in Brazil's main coffee growing regions, local weather forecasters said on Tuesday. Increased isolated showers will pick up through the rest of the week, starting in the southern grain states of Rio Grande do Sul and Parana. Brazil exported 2.43 million 60-kg bags of green coffee in January, up from 2.29 million bags a year earlier, coffee export association Cecafe said on Monday.

El Salvador: Current 2013/2014 coffee crop is expected to fall nearly 60 percent due to the spread of the tree-killing fungus roya, the national coffee council CSC said on Thursday, which would mark one of the lowest yields in decades. The Central American country's 2013/2014 harvest is seen producing 554,300 60-kg bags, down 58 percent compared to output during the previous 2012/2013 season.

Tanzania: arabica coffee prices rose at auction last week, tracking higher New York markets as demand for the commodity increased, the regulator of Tanzania Coffee Board (TCB) said on Tuesday. Prices of robusta coffee beans fell in line with trends at London markets. 11,077 60-kg bags were offered at the latest sale and that 10,408 bags were purchased. At the previous sale, a total of 10,204 60-kg bags had been offered for sale, with 8,768 bags sold.

Uganda: exports in January rose 12.5 percent year-on-year to 391,514 60-kg bags, helped by rising market prices, a state agency said on Wednesday. "The key factor for the rise was prices. The prices at the farm gate have been improving over the last two months... that motivated them (farmers) to sell higher quantities so they could take advantage and earn more," said a source at the state-run Ugandan Coffee Development Authority (UCDA).