Market Reports Blog / Market Reports / Coffee Market Report 13th to 17th January 2014

Coffee Market Report 13th to 17th January 2014

COFFEE MARKET NEWS 13th January – 17th January 2014

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-14 c/lb

119.85

119.20

117.20

118.35

117.15

Lon Mar-14 $/t

1739

1728

1706

1735

1710

£/$

1.6368

1.6440

1.6368

1.6339

1.6407

Futures Markets:

Arabica: The board lifted almost 2 cents with the open position adding over 3,300 lots and the arbitrage widened just over a cent. Looking at the market from a weekly base the board is holding its own with levels needing to roll over below 116 to break the pattern. The daily formation looks weak but still operates within a band of 112/120 bases March.

Robusta: Robusta came across tired towards the end of last week with the price action not able to punch above the 1750 option strike which now acts like a ceiling to price action. Levels settled back below important averages albeit in relative light volume. The more important downside trigger will be 1680 bases March over this week’s action then that will put pressure on the new longs that have been attracted.

Currency: On the FX markets, the US inflation data saw Sterling recover an element of recent losses against the US Dollar as GBP/USD rose to a high of $1.6381 before easing, while EUR/USD also made gains pushing to a high of $1.3649.

Physical Markets:

Brazil: Brazil exported 2.51 million 60-kg bags of green coffee in December, down from 2.59 million bags a year earlier, coffee export association Cecafe said on Monday. Brazil, the world's largest coffee supplier, exported 27.84 million bags of green coffee in 2013 compared with 24.96 million in 2012, Cecafe said.

Nicaragua: Nicaraguan coffee exports dropped by 57 percent in December from the same month last season to reach 25,967 60-kilogram bags, the country's national exports association, Cetrex, said on Friday.

Costa Rica: farmers can begin buying seeds developed to resist a devastating tree-killing fungus through a national renovation program launched this week.

Kenya: A total of 15,200 bags were offered, with only 4,305 bags sold, compared with 18,881 bags offered at last week's sale and 5,326 bags sold.

Tanzania: prices rose at the first auction of the year last week, regulator Tanzania Coffee Board said on Thursday. TCB said 13,762 60-kg bags were offered at the latest sale and that 13,002 bags were purchased. At the previous sale on Dec. 19, a total of 13,046 60-kg bags had been offered for sale, with 11,599 bags sold.

India: prices in India rose slightly last week in line with overseas markets, and on rising enquiries in the local market.

Uganda: coffee exports rose 7 percent in December from the same period in 2012 as farmers sold more of the commodity to raise money for the holiday season, a source at the Uganda Coffee Development Authority (UCDA) said on Wednesday.