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Coffee Market report 7th July 2014 to 11th July 2014

COFFEE MARKET NEWS 7th July – 11th July 2014

 

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Sep-14 c/lb

171.10

172.95

172.90

163.00

161.40

Lon Sep-14 $/t

2038

2063

2056

2009

1997

£/$

1.7130

1.7131

1.7048

1.7133

1.7117

 

Futures Markets:

Arabica: NYC ICE fell to new levels (quicker than Robben diving – apologises for relating this to football) as the market reached the lowest level from mid February 2014.  

Robusta: If you thought the 4th of July week was slow, most of this week takes the cake hands down. With a brutal loss to the Germans and a local holiday in Sao Paulo, there seemed to be a clear absence from the market, even if at these levels they aren’t interested in selling just yet.

Currency: On the FX markets, the euro came under pressure with EUR/USD falling back to $1.3588, while GBP/EUR rose to a high of €1.2603. Meanwhile GBP/USD eased to a low of $1.7102 before recovering.

Physical Markets:

Brazil: exported 2.6 million 60-kg bags of green coffee in June, up from 2.09 million bags in the same month a year earlier, the Council of Green Coffee Exporters (Cecafe) said on Tuesday. The council said 2.71 million bags were exported in May of this year, revised from 2.65 million bags reported a month earlier as some data was turned in late. Even with drought damage to the crop, which is now in the peak-harvest period, Cecafe reported a 12 percent increase in coffee exports over the past year. For the entire commercial year, ending in June, Brazil exported 30.48 million bags of green coffee, up from 27.15 million bags the year earlier.

El Salvador: exports from El Salvador fell 50.9 percent in June compared to the same month a year earlier, mostly because of damage from the tree-killing fungus roya, the national coffee council said on Friday. Shipments in June totalled 50,093 60-kilogram bags. Exports during the first nine months of the current 2013/2014 season hit 455,191 bags, a fall of 50.5 percent compared to the previous harvest.

Guatemala: One word….quiet. Most of the business has finished just few top qualities deals are on their way.

Honduras: Similar situation to Guatemala, the concentration mainly focussed on shipping the remains of the crop.

Kenya: Most exporters are taking some time off before the auctions resumes on 15th of July. No news about the fly crop as of yet.

India: production in 2014/15 could rise 13.2 percent from a year ago to 344,750 tonnes, the state-run Coffee Board said in its post-blossom estimate, although it warned the arabica crop had been hit by a heavy infestation of white stem borers due to a prolonged dry spell………… same story as last year.