Market Reports Blog / Market Reports / Coffee Market report 27th October 2014 to 31st October 2014

Coffee Market report 27th October 2014 to 31st October 2014

COFFEE MARKET NEWS 27th October – 31st October 2014

 

World coffee exports totalled 8.15 million 60-kg bags in September, down 4.7 percent from the same month last year, the International Coffee Organization said.

September marks the final month of the 2013/14 coffee year, bringing total global exports to 111.29 million bags, down 1.5 percent from the previous year.

 

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Dec-14 c/lb

190.90

192.35

189.60

187.60

188.00

Lon Jan-15 $/t

2017

2024

2042

2037

2048

£/$

1.6135

1.6136

1.6014

1.6002

1.6003

 

Futures Markets:

Arabica:  It was quite dull week compared with previous weeks; we seem to be a slow downward trend but some brokers remain bullish. The volatility range can still be compared to the motion of a yoyo, 5c/lb the norm during most days.  The week settled about 3c/lb lower than it was opened on Monday.

Robusta: After following Arabica every week, this week we saw the opposite, robusta went up by about 30$/mt from Monday. There wasn’t much volatility about 20$/mt per day. Overall robusta is still quite stable these days.

Currency: On the FX markets, the US dollar continued to make gains following the less dovish Fed statement and stronger than expected US GDP growth. GBP/USD fell to a low of $1.5949, while EUR/USD fell to a 3-week low of $1.2546.

Physical Markets:

Brazil: coffee areas are forecast to get an increase in isolated showers starting Friday as extremely dry conditions of late are expected to give way to normal spring rains in November, the local weather service Somar said. The main southeast coffee growing areas will get about 2 or 3 inches of widespread rainfall over next two weeks, the forecaster said in a daily weather bulletin. But Somar and other forecasters say estimates of total rainfall through mid November are trending slightly drier.

Kenya: The value of coffee sold at Kenya’s auction climbed 37 percent in the year to September, helped by higher global prices and better quality crops, the head of the Nairobi Coffee Exchange (NCE) said on Wednesday. The east African nation, whose high-quality beans are sought by roasters to blend with beans from other producers, exports much of its coffee through the exchange and the rest sold by growers to foreign buyers.

Sumatra: Robusta coffee bean exports from Indonesia's main growing area in Sumatra fell 50 percent to 21,973.13 tonnes in October from a year earlier, government trade data showed on Monday.

Indonesia shipped 44,262.13 tonnes of robusta in the same month a year earlier and 21,035.74 tonnes in September 2014.

 Vietnam: the world's top robusta producer, exported an estimated 1.5 million tonnes of coffee, or 25 million bags, during January-October, up 37.4 percent from a year ago, the government said on Monday. September coffee exports were revised down to 97,353 tonnes, from 100,000 tonnes in an earlier estimate, the General Statistics Office said in its monthly report.