CIJENE KAVE

CIJENE KAVE 23.04.1998. SLUŽBENE CIJENE NA ZATVARANJU LONDONSKE BURZE 23.04.1998. cijene su u lotovima - 1lot iznosi pet metričkih tona MJESEC POSLJEDNJA PONUDA POTRAŽNJA NAJVI-ŠA NAJNI-ŽA PRIJA.ZATVA. KOLIČINA OPEN INT. MAY 98 1855 1965 1845 1978 3000 14909 JUL 98 1780 1780 1899 1760 1916 4850 26078 SEP 98 1740 1735 1740 1860 1740 1873 1000 4685 NOV 98 1785 1700 1816 1785 1833 141 1467 JAN 99 1793 121 MAR 99 1753 231 MAY 99 1713 UKUPNA KOLIČINA 4038 04/23 LIFFE MAY, JULY COFFEE FUTURES PLUMMET ON FUND SELLING LONDON (DOW JONES)--LIFFE MAY AND JULY COFFEE FUTURES' CONTRACTS PLUMMETED IN THE FINAL 90 MINUTES OF TRADING THURSDAY, DROPPING MORE THAN $100 A TON ON LIQUIDATION BY FUNDS AND SPECULATORS, SAID TRADERS IN LONDON. 'THERE WAS A SNOWBALL EFFECT AS FUNDS AND SPECS SOLD THROUGH THEIR STOP ORDERS,' SAID ONE TRADER. TRADE HOUSES HAVE STOP ORDERS AT CERTAIN PRICE LEVELS WHICH TELL TRADERS TO GET OUT OF THE MARKET WHEN A PARTICULAR CONTRACT DROPS TO A CERTAIN PRICE. WHEN PRICES DROPPED LATE THURSDAY SEVERAL OF THESE STOP ORDERS WERE ACTIVATED, CREATING THE 'SNOWBALL' EFFECT, SAID THE TRADER. ONE TRADER SAID THAT IT WASN'T THE BIG FUNDS THAT WERE SELLING, BUT THE 'SMALLER FUNDS, PLUS THE SPECS WHO HAD GONE LONG ON THE BACK OF FUND BUYING IN THE PAST FEW WEEKS.' (CLOSING PRICES AT LIFFE THURSDAY AND CSCE PRICES AT 1605GMT IN DOLLARS/METRIC TON AND DOLLARS/POUND.) + LIFFE CHANGE RANGE VOL CSCE CHANGE MAY 1855 -123 1845-1965 3000 1.4210 -5.70CT JUL 1780 -136 1760-1899 4850 1.3700 -6.20CT BOTH THE LIFFE MAY AND JULY COFFEE CONTRACTS FELL BY OVER $100 A TON. THE MAY CONTRACT LOST OVER 6% OF ITS WEDNESDAY CLOSING PRICE IN THURSDAY'S TRADE. BEFORE THE FINAL HOUR AND A HALF THE MAY COFFEE CONTRACT HAD TRADED STEADY AT AROUND $20/MT TO $30/MT DOWN FROM WEDNESDAY'S CLOSE. 'THIS IS WHAT HAPPENS WHEN THERE ARE MASSIVE LONGS IN THE MARKET AND NO BUYING,' SAID ONE TRADER. HE SAID HE THOUGHT THE MARKET ALSO DROPPED ON NEW YORK'S LOW TRADING THURSDAY. TRADERS SAID THEY THOUGHT THAT THERE WERE STILL PLENTY OF LONGS IN THE MARKET AND THAT THE CONTRACTS COULD DROP FURTHER. A TOTAL OF 7,502 LOTS WERE TRADED IN THE COURSE OF THE DAY. OF THESE, 88% WERE TRADED ON THE MAY AND JULY CONTRACTS. 241027 MET apr 98