Market Reports Blog / Market Reports / Coffee Market report 24th November 2014 to 28th November 2014

Coffee Market report 24th November 2014 to 28th November 2014

COFFEE MARKET NEWS 24th November – 28th November 2014

 

World coffee exports totaled 8.88 million 60-kg bags in October, up a marginal 0.5 percent from the same month last year, the International Coffee Organization said on Friday.

 

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-15 c/lb

190.50

195.05

194.25

closed

1.87.45

Lon Jan-15 $/t

2099

2095

2096

closed

2070

£/$

1.5701

1.5714

1.5790

1.5732

1.5650

 

Futures Markets:

Arabica:  ICE has struggled to find any comfort at any level, with these volatile ranges we see them act similar to an elastic band – stretching to certain level but flying back down once there is no support.

Robusta: Another high this week but again no enthusiasm to even get close to the forecast. We saw prices reaching 2105 and oscillating around the 2100s before declining back to 2070 - Volumes overall small.

Currency:  The US dollar made broad gains on Friday as disinflation fears were fuelled by the continued weakness in oil prices. The slowdown in the UK housing market was underlined as the Nationwide reported house price growth softened to an eleven month low of 8.5% year-on-year in November, considerably below the ten year peak of 11.8% seen in June.

Physical Markets:

Brazil: Scattered showers brought up to 3 centimetres of rain to some key growing areas

Mexico: - Delays in coffee harvests in Central America this year as rains prevent workers from collecting cherries has led to firmer differentials in rival countries such as Mexico, which have leftover supply from last season.

Indonesia:  - Indonesia's coffee bean output could fall by up to 12 percent this year, an industry group said, although the decline will not be as steep as previously expected due to slowly improving weather conditions on the main growing island of Sumatra

Kenya: Top AA grades dipped by a measly $4/kg. We are soon to see top single/cooperative coffees on offer next month as they have just arrive as they are just arriving at the mills.

Uganda: Uganda coffee exports for October rose by 9 percent to 229,438 60-kg bags of coffee compared with the same month a year ago, an industry body said on Wednesday, reversing a pattern of lower exports this year.

Tanzania: Quality in general was low across the various regions and as a result prices were all over the place. Grinder differentials remained very firm. It seems dealers are very short this quality.

Next week has 15,770 bags on offer.