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July 24th, 2012
Coffee futures of arabica tumbled Tuesday to a low not seen in more than three weeks, as worries over slowing global economic growth eclipsed evidence that unseasonable rains in Brazil have hurt the quality of this season’s crop for the biggest coffee-grower.
Coffee futures rabica for September delivery settled 5.2% lower at $1.7545 a pound, shedding nearly 9.7 cents.
“The main issue is about global economic strength,” said Newedge analyst Marcio Bernardo. “If we have low economic activity, we will reduce global demand for everything.”
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July 3rd, 2012
Coffee Futures – Sugar futures on ICE rose on Tuesday, with the October contract hitting a two-month high, boosted by delays to top producer Brazil’s harvest after wet weather.
Arabica coffee was also supported by concerns over the impact of rain on the quality of the coming crop, with prices firming, while cocoa was also up slightly.
Raw sugar futures on ICE rose, also supported by unseasonably heavy rain in Brazil which is delaying the harvest, although a spell of drier weather has now begun.
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June 27th, 2012
Orange Juice Futures – Florida’s orange groves survived a lashing from Tropical Storm Debby this week. But some commodities investors are betting that Debby is just a warm up to what is expected to be a busy hurricane season.
These investors are buying orange-juice futures contracts in anticipation of prices jumping should Florida, the largest producer of juicing oranges, be battered in coming months. Already, prices are up 13% since mid-May.
The jump comes after six months of tumbling prices. Orange-juice futures have been among the worst-performing commodities of 2012, falling 31%. Some investors say even a hint that another storm is heading for Florida may be enough to keep prices moving higher.
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June 28th, 2012
Sugar Futures – The worst start to the monsoon season in India in three years is threatening crops from rice to sugar cane, stoking concern that the nation may limit exports to preserve supplies. Soybean futures in India climbed to the highest since 2003 and corn rose to a five-month high.
Rainfall from June to September, which represents 70 percent of annual amount, may be below normal with the main cane-growing regions getting less rain than required, said Michael Ferrari, a commodity director and senior scientist at Falls Church, Virginia-based Computer Sciences Corp. (CSC) Rain is 23 percent below average since the season started on June 1, according to the India Meteorological Department.
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June 26th, 2012
Cocoa futures climbed the most in three weeks on speculation that wet weather will increase the risk of crop disease in Ivory Coast, the world’s top producer. Sugar and coffee also advanced.
Most areas of Ivory Coast will get at least 75 millimeters (3 inches) of rain through July 3, according to the U.S. National Oceanic and Atmospheric Administration. Some regions in the north will get as much as 150 millimeters, data on the NOAA website showed today. Heavy rains raised the prospect of poor bean quality and the fungal disease known as black pod, said Drew Geraghty, a broker at ICAP Futures LLC in Jersey City, New Jersey.
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June 15th, 2012
Coffee Futures – Buyers of fine coffee from Brazil, the world’s largest producer, are getting a smaller discount as rains delay harvesting and threaten quality.
Fine cup beans for July and August shipment were at a discount of 11 cents a pound to the price on the ICE Futures U.S. exchange in New York, according to Rio de Janeiro-based broker Flavour Coffee. That compares with a discount of 12 cents last week, data from the broker show.
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