coffee futures news

coffee futures news

May 20th, 2016

Brazilian coffee production will soar by 13% this year, but remain short of all-time highs, with a drop in the drought-hit robusta crop offsetting a rise in arabica output to a record top.

In its first estimate for the 2016-17 crop, the US Department of Agriculture’s Brasilia bureau pegged it at 55.95m bags.

That would represent an increase of more than 6.5m bags year on year, but fall short of the record 57.6m-bag harvest reaped four years ago.

This increase is forecast being led by arabica beans, for which the bureau forecast output soaring from 36.10m bags last year to 43.85m bags  – eclipsing the highs of 42.1m bags set in 2012.

Arabica yields are expected to increase due to “good blossoming between September and November 2015 in all producing regions and overall good weather conditions during fruit setting and development”, the bureau said in a report.

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November 8th, 2012

Coffee Futures – Coffee farmers in Vietnam, the world’s biggest grower of the robusta variety used by Nestle SA (NESN) in instant drinks, have harvested more beans than last year because of an early start and favorable weather.

Growers reaped about 19 percent of the crop, or 280,000 metric tons, the median of eight trader and shipper estimates compiled by Bloomberg shows. The harvest is set to drop 12 percent to 1.45 million tons from 1.64 million tons last season, while 175,000 tons have been sold, the survey shows.

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October 23, 2012

Arabica coffee futures on Intercontinental Exchange climbed more than 1 percent on Monday, with the market extending its rebound from last week’s six-week low on short-covering although the upside appeared to be capped by bearish fundamentals.

Cocoa futures on ICE also rose, touching a three-week high with dealers concerned about increasing violence and heavy rains in top grower Ivory Coast, while raw sugar fell, giving back the previous day’s gains in thin volume. December arabica futures on ICE settled up 2.85 cents, or 1.8 percent, at $1.6450 per lb. The contract hit $1.5715 on Thursday, the lowest level for the front month since September 6.

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October 11th, 2012

Coffee Futures – Coffee production in Vietnam, the world’s biggest grower of the robusta variety used by Nestle SA (NESN) in instant drinks, is poised to decline from a record as dry weather cuts yields, bolstering prices.

The harvest may drop 9.4 percent to 1.45 million metric tons in the season that started Oct. 1 from an all-time high of 1.6 million tons in 2011-2012, according to the median of eight trader and shipper estimates compiled by Bloomberg. That’s less than the 26 million bags (1.56 million tons) estimated by Volcafe Ltd. A bag weighs 132 pounds.

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October 3rd, 2012

Coffee Futures – U.S. soft futures were mostly higher during U.S. morning trade on Wednesday, with coffee prices rallying to the highest level since July amid growing speculation rain would return to key growing regions in Brazil and disrupt harvesting.

On the ICE Futures U.S. Exchange, Arabica coffee for December delivery traded at USD1.8478 a pound, jumping 1.35%. It earlier rose by as much as 1.65% to hit a session high of USD1.8538 a pound, the strongest level since July 23.

Coffee futures have gained sharply in recent weeks, boosted by speculation adverse weather conditions will return to key coffee-growing regions in Brazil and disrupt the pace of harvest.

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September 14th, 2012

Coffee Futures – Buyers of coffee from Brazil, the world’s largest producer, were getting a bigger discount for arabica beans this week, with futures in New York rallying, according to Flavour Coffee and Cazarini Trading Co.

Fine-cup beans were trading at a discount of 10 cents a pound to the price of the December contract on ICE Futures U.S. in New York, compared with 6 cents a pound last week, data from Rio de Janeiro-based broker Flavour Coffee showed. Good-cup quality beans were at a discount of 20 cents a pound up from 16 cents a pound last week, it said in a report e-mailed yesterday.

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September 4th, 2012

Arabica coffee climbed for a second session in New York on signs of limited supply from Brazil, the world’s largest producer. Cocoa and sugar slid.

Farmers in Brazil are hoarding part of their production to wait for price increases, the National Coffee Council said in a report last week. The price has dropped 27 percent this year on forecasts for a bigger harvest in Brazil.

“Brazilian offers remain light,” Jack Scoville, a vice president for Price Futures Group in Chicago, said today in a report. “Farmers there are not offering much, and are offering lower qualities when they offer at all.”

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August 31st, 2012

Coffee Futures – Coffee production in Vietnam, the biggest grower of the robusta variety used in instant drinks and espressos, is poised to decline from a record on drier weather in the key growing region.

The harvest may fall 10 percent to 1.40 million metric tons in the 2012-2013 season starting Oct 1, from an estimated all- time high of 1.55 million tons, according to the median forecast in a Bloomberg survey of six traders and shippers. Rainfall in the Buon Ma Thuot region this year to Aug. 20 was 28 percent lower from a year earlier, according to the Dak Lak province’s Meteorology and Hydrology Department.

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