Market Reports Blog / Market Reports / Coffee Market Report 30th December 2013 3rd January 2014

Coffee Market Report 30th December 2013 3rd January 2014

COFFEE MARKET NEWS 30th December 2013 –3rd January 2014

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-14 c/lb

114.70

110.70

-

111.40

116.35

Lon Mar-14 $/t

1696

1683

-

1614

1644

£/$

1.6515

1.6565

-

1.6437

1.6428

 

Futures Markets:

 

Arabica: NY returned to higher levels than which it started the week - speculative selling diminished and technical buying returned. The coming week will hopefully bring back a full audience to the market.

Robusta: London also drummed up a bit of a rebellion Friday but it still faltered short of the immediate 1668 resistance.  Most of the spread activity was in Mar/May again, the switch came into +$16 as the market made its lows but jumped to +$33 in the afternoon as spec buying drove March higher. Volumes on Friday were a healthy 3,000 lots leaving little interest in Jan/Mar again.

Currency:  On the FX markets, the weaker than expected UK manufacturing data saw GBP/USD drop sharply from a high of $1.6603 to a low of $1.6412. The US dollar also posted gains against the euro as EUR/USD dipped below the $1.37 level to a low of $1.3628.

 

 

 

Physical Markets:

 

Brazil: Total production for 2014/2015 is forecasted to be around 51m a drop in 9m from forecasts two months ago.

Colombia: produced 10.9 million 60-kg bags of arabica coffee in 2013, the national growers' federation said on Friday, a 41 percent jump over the previous year, helped by improved weather and millions of new trees reaching productive age.

India: Coffee output in India may fall 10.23 percent to 311,500 tonnes in the year starting October 2013 due to untimely rains in southern Karnataka state, the major producer, the government-run Coffee Board said on Friday in its post-monsoon crop forecast.

Honduras: exports from Honduras edged up 0.3 percent in December, national coffee institute Ihcafe said on Thursday, but a blight of leaf rust could still drive down the current 2013/2014 harvest.

Indonesia: Robusta coffee bean exports from Indonesia's main growing area in Sumatra climbed 17.6 percent to 22,425.74 tonnes in December from a year earlier, government trade data showed on Thursday. Indonesia shipped 19,071 tonnes of robusta in the same month a year earlier and 51,613.24 tonnes in November.