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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April 27th, 2012

Coffee Futures – Buyers of coffee from Brazil, the world’s largest producer, are getting a bigger discount for beans as the new-crop harvest approaches, brokers said.

Fine cup beans for May and June shipment are trading at a discount of 8 cents a pound to the price on ICE Futures U.S. in New York, data from Rio de Janeiro-based broker Flavour Coffee showed. That compares with a 5-cent discount last week, according to the data.

Buyers of good cup beans for shipment in the same period are getting a discount of 15 cents a pound to the exchange price, up from 12 cents last week, Flavour Coffee said in a report e-mailed yesterday. Fine cup coffee is usually more expensive than good cup quality because of its taste profile.

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February 22nd, 2012

Coffee futures arabica fell the most in a week as stockpiles climbed and producers sought to increase sales in Brazil, the world’s top grower. Cocoa advanced, while sugar dropped.

Coffee inventories monitored by ICE Futures U.S. have jumped 24 percent since the end of October, exchange data show. As of Feb. 17, Brazil’s permits for exports this month surged 26 percent from January, the nation’s Council of Coffee Exporters, known as Cecafe, said on its website. Markets in the country were closed on Feb. 20 and 21 for the Carnival festival.

“Brazilian sellers are back in the market,” Hernando de la Roche, the director of futures at INTL FCStone in Miami, said in a telephone interview. “Stocks are also rising.”

Coffee futures arabica on ICE for May delivery declined 1.9 percent to $2.022 a pound at 10:54 a.m., heading for the biggest drop since Feb. 14. Before today, the price slumped 9.2 percent in 2012.

Equities fell worldwide for a second day after separate reports signaled slowing growth in Europe and China. The dollar rose as much as 0.4 percent against a six-currency basket, reducing the appeal of commodities as alternative assets.

There’s “a general risk-off atmosphere with the dollar trading stronger,” Adam Klopfenstein, a market strategist at Archer Financial Services Inc. in Chicago, said in an e-mail.

Cocoa futures for May delivery climbed 0.7 percent to $2,440 a metric ton on ICE, after touching $2,450, the highest since Jan. 27. Before today, prices gained 15 percent this year.

Raw-sugar futures for May delivery slid 0.6 percent to 24.32 cents a pound in New York. The sweetener rose 4.7 percent in the previous four sessions.

In London futures trading, robusta coffee dropped, while cocoa advanced, and refined sugar was little changed on NYSE Liffe.

- Marvin G. Perez in New York at Bloomberg.