Market Reports Blog / Market Reports / Weekly Market Report 11th to 15th February 2013

Weekly Market Report 11th to 15th February 2013

 

Futures Markets:

 

Arabica: The market continues to find new support on an outright basis as again we found sliding movement after looking positive in certain periods. The lower Bollinger range seems to be hit constantly as Arabica hits new 32 month low since June 2010.

Robusta: London showed familiar patterns with the bulk of activity revolving around structure as March discount settle lower towards $30. The same sources appear to be most active throughout, creating pressure for the market to potentially move lower.

Currency: The UK faces increases in inflation and a muted economic recovery according to the latest inflation report produced by then Bank of England Governor, Mervyn King. The Eurozone recession deepened more than forecasted in the final quarter of last year as the region’s three largest economies suffered a slump in activity.

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-13 c/lb

140.15

140.65

138.75

138.75

136.95

Lon Mar-13 $/t

2078

2070

2066

2030

2022

£/$

1.5757

1.5608

1.5648

1.5507

1.5528

 

 

Physical Markets:

 

Brazil: Differentials are still holding firm even after the continued plummet of the NYC through the 140 barrier.

Guatemala: Exports for the 2012/2013 harvest cycle could drop as low as 2.9 million bags if producers are unable to stem the severe outbreak of roya, the country’s President Otto Perez stated.

El Salvador:  The CSC stated that exports fell by 17.3% in January compared with the same month last year, to 107971 bags.

Uganda: Exports rose by 54% year-on-year in January to 348,152 bags on favourable weather and improved transport to Mombasa port, the UCDA stated.

Kenya: Top price of the benchmark AA grade rose by $46 per bags compared to the previous auction according to the NCE statement.

Burundi: Revenues fell 24% in January from the previous month affected by the quality of beans have been passing through the auction – this comes as a surprise as sales for the year have already topped expectations, the country’s industry regulator, ARFIC stated.

India: All coffee Exports may drop below 5 million bags this year according to the President of the Coffee Exporters Association of India. This drop is the continuation of last years as exports fell by 9.4%.

 

AOB: NEW YORK IS CLOSED ON MONDAY 18th – PRESIDENTS DAY