Coffee Futures prices today - November 2015 Brazil provisional coffee export figure 8.8% higher : The Trade Ministry in Brazil has reported their provisional coffee export figure for the month of November to have been 252,026 bags or 8.8% higher than the same month last year, at a total of 3,116,107 bags. One must assume in terms of recent reports that the greater part of these exports were related to fulfilment of forward contract commitments, rather than spot prompt business, as internal market selling activity has slowed in the recent weeks.
Meanwhile yesterday’s first of the state auctions of aged government arabica coffee retention stocks of approximately 1.56 million bags which offered up 100,263 bags for sale, proved to be a failure. This related to a complete lack of bids, as it appears that there were no buyers prepared to pay up to match or better the minimum reserve prices set for these coffees. The lack of support despite the relatively low reserve prices which reflects the quality of these aged coffees, indicating that there presently is not too much tightness in supply to the countries domestic roasters.
Despite the many reliable trade and industry forecasts with the new crop harvest starting to head towards its peak in Vietnam for a new crop that is well in excess of 28 million bags and with some talking numbers in excess of 29 million bags, the Vietnam Coffee and Cocoa Association have come forth with a forecast for a much more dismal figure of 18 million bags. This official body is however traditionally very conservative and has likewise traditionally been proved wrong by the evidence of the year on year export figures and therefore, this somewhat market manipulative forecast has been largely ignored by the international market players.
Coffee Futures Prices December 1 2015
LONDON ROBUSTA US$/MT NEW YORK ARABICA USc/Lb.
JAN 1490 + 12 DEC 117.15 + 0.25
MAR 1521 + 14 MAR 119.90 + 0.25
MAY 1546 + 14 MAY 122.05 + 0.25
JUL 1568 + 12 JUL 124.15 + 0.25
SEP 1588 + 12 SEP 126.00 + 0.25
NOV 1607 + 12 DEC 128.80 + 0.20
JAN 1625 + 12 MAR 131.55 + 0.15
MAR 1643 + 12 MAY 133.35 + 0.05
MAY 1665 + 12 JUL 134.95 – 0.15
JUL 1701 unch SEP 136.40 – 0.45
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