Market Reports Blog / Market Reports / Coffee Market Report 11th to 15th November 2013

Coffee Market Report 11th to 15th November 2013

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Dec-13 c/lb

103.25

105.80

103.05

103.05

105.75

Lon Jan-14 $/t

1498

1495

1465

1447

1511

£/$

1.5984

1.5946

1.6015

1.6043

1.6076

 

Futures Markets:

 

Arabica:  The week for coffee finished on a more positive note brightening up the short term outlook but not yet doing enough to alleviate the longer term prospects. The key ingredient for NY today was short covering. However this target has been visited before and the market has failed to build a steady platform – theoretically more purchasing is required.

Robusta:  London was spurred by a NY market that also opened higher and looked to extend gains.  Better volume came forward as US participation increased and London and NY took turns to take the lead as each advanced 3% by London’s close. 

Currency:  On the FX markets, the disappointing US data releases saw both Sterling and the euro post gains. GBP/USD pushed back above the $1.61 level to a high of $1.6133 after recent dips to 1.5940s.

 

 

 

 

Physical Markets:

 

Brazil: Showers forecast in Brazil’s growing regions seen favouring development of crop that’s now flowering or in early cherry-growth stage. The government is studying new measures to prop up coffee prices and help growers reduce their debt, a person in the government said Thursday.

Colombia:  More competitive differentials are now being offer, creating some business. This is aiding the limited crop that will be coming out of Central-American this year due to Roya.

Burundi: Revenue from coffee exports rose by 68% in October from a month earlier. This came after news that coffee prices will fall in Brazil.

Ethiopia: New crop has just started to be offered, but the coffee is overpriced and not of a good standard according to local exporters.

Tanzania: Coffee prices fell at auction this week, mirroring the NYC in the early part of the week. The TZ auction is held in Moshi on a Thursday Morning – therefore meaning that it was not affected by the hike in the NYC.

Vietnam: Rain was falling in Vietnam's Central Highlands coffee belt on Friday, state forecasters and residents said, potentially disrupting harvests and delaying bean drying.