Arabica coffee futures prices forecast September 2015 : Volatile swings in Brazil's currency and coffee futures prices dampened interest in producer selling of the commodity this week, as all eyes focused on flowering of the new crop, traders said on Thursday. Brazil's drought-stressed southeastern states, where much of the world's coffee and sugar is grown, saw heavier than expected spring-like rains push into the region this week, with more rains en route, forecasters said.
Outright prices in reais eased through the week after the Brazilian real weakened sharply against the dollar. Internal prices jumped to 450/470 reais a 60-kg on Monday, but dropped back to 420/440 reais by Thursday for benchmark hard-cup arabicas,
Export discounts were quoted on Thursday at -5/-2 (buyer/seller) US cents/lb under ICE September futures for prompt delivery at the port of Santos on Thursday. The day before, traders quoted discounts at -3/+2 cents/lb, according to price discovery service Cepea.
The widespread wet weather suspended the final weeks of harvesting of the 2015/2016 crop in Sao Paulo and Parana states. Rain has yet to push into the main coffee state of Minas Gerais except in isolated areas. Meteorologist Marco Dos Santos at forecaster Somar said more than 20 mm (0.8 inches) fell in many areas of the coffee belt. Santos said a new cold front was pushing into Brazil's south today and would bring more rain to the coffee belt.
Take care against assuming rains have returned because of El Nino! September will still have irregular rain patterns,, adding that only in October would rains come with greater frequency. Coffee trees need regular rains every few weeks for flowers to set and create the buds that will be coffee fruit. Flowering has already started in the main robusta-producing states of Espirito Santo and Rondonia.
Market closed Friday august 28 2015 The price of coffee touched multi-month lows, weighed down also by the strong dollar. By Friday on LIFFE, Robusta for delivery in November reversed to $1,643 a ton from $1,653 one week earlier. On ICE Futures US, Arabica for December stood at 124.75 US cents a pound compared with 132.60 cents one week earlier.
For New York arabica futures, we forecast for average prices in 2015 by 10 cents a pound to 135 cents a pound. It estimated values averaging 135 cents a pound in the last three months of the year, ahead of the 124.75 cents a pound at which December futures were trading
0 Response to "Arabica coffee futures prices forecast September 2015"
Post a Comment