CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 12. svibnja 1997. Differentials /svibanj/ ZADNJA Santos 4's 18 cts under "C" 211.65 N Colombian MAMs 48 cts over "C" 277.65 N El Salvador 22 cts over "C" 251.65 N Mexican 18 cts over "C" 247.65 N Guatemala 22 cts over "C" 251.65 N Peru 19 cts over "C" 248.65 N Uganda Pmy Robs 10 cts over London 90.51 N Indonesia EK1 4 cts under London 76.51 N Ecuador Ext Sup 14 cts under "C" 215.65 N NEW YORK - KAVA cijene pri zatvaranju burze 12. svibnja 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO SEC EDNJA RANJE VIŠA NIŽA RANJE DBE MAY7 246.00 240.00 247.00 239.00 245.00 245.65 2 JUL7 230.00 218.70 230.25 218.70 228.75 229.65 2 SEP7 204.50 195.50 205.00 195.50 204.00 204.45 1 DEC7 179.75 174.00 179.75 174.00 179.75 179.75 1 MAR8 166.50 161.50 166.50 161.50 166.50 166.50 1 MAY8 158.50 155.00 158.50 155.00 158.50 158.50 1 JUL8 152.00 150.00 152.00 152.00 151.50 151.75 1 SEP8 140.00 145.00 145.50 1 CSCE coffee ends up sharply, July hits new high NEW YORK, May 12 (Reuter) - CSCE coffee futures ended sharply higher on Friday, with benchmark July surging more than five percent, as speculators bought heavily amid bullish technical indicators and a fundamental outlook of continued supply tightness, traders said. "It's a combination of technical and fundamental factors," said Victor Henriquez, the president of Hencrop Becstone in Miami. "Technically, it broke out of a bull flag formation. Fundamentally, the reality is, there is no coffee." The entire board -- except the spot May contract -- set new life-of-contract highs during the session. Active July jumped to a lifetime high of 230.25 cents per lb, before settling at 229.65 cents, up 11.75 cents on the day. Spot May gained 6.65 cents, to 245.65 cents, while the back months closed 4.35 to 8.90 higher. Reflecting growing supply concerns, the July/September switch ballooned today, ending at 225.20 cents compared with 22.35 cents on Friday. Coffee prices headed higher at the outset, defying pre-opening expectations, after the trade came in covering short positions, dealers said. Origin selling, most notably from Brazil, initially held the rally in check and kept the July contract beneath key resistance at 225.00 cents. But bullish sentiment was re-ignited by a report from brokerage Merrill Lynch, which said coffee prices could reach record highs ahead of new crop shipments this autumn due to ongoing supply tightness. "There seems to be nothing to stand in the way of record high prices being attained until the new crop mild coffee becomes available next season," Merrill Lynch analyst Judith Ganes wrote in a bi-weekly report. "Since both producer and consumer stocks are at low levels and current price levels are not sufficent to curb demand." Although Merrill Lynch did not specify a price, the highest price on CSCE was 340.70 cents a lb set April 14, 1977. "The report from Merrill Lynch showed the seriousness of the sitiuation and emphasized the potential of this market," said Henriquez. "The first time someone yells 'cold weather,' this thing is going to explode," he added. Traders and analysts said the market would probably continue to be well underpinned ahead of the June through August winter season in top-grower Brazil. Two severe frosts in 1994, one in late June and another in early July, cut Brazil's 1995/96 crop by some 50 percent and sent futures prices to near 10-year highs. "This is the time of year when no one wants to sell," one trader said. "Who is going to sell it in front of the frost season? There's absolutely no reason to be short." Additionally, traders will keep an eye on second-largest producer Colombia, where some forecasters have cast doubt on the size of the current coffee crop. A Colombian exporter said Monday the country's 1996/97 coffee harvest was likely to fall short of the federation's estimate of about 10.1 million bags. The private exporter, who did not wish to be named, told Reuters that based on production figures so far, he forecast this year's output at some 9.5 million bags. His estimate took into consideration April to June production projection of around 2.5 million bags, down from the federation's forecast of three million 60-kg bags for that period. However, some traders said an increase of coffee certified for delivery against the exchange could dampen sentiment. After Monday's close, the CSCE reported certified coffee stocks increased by 4,373 bags, to 31,292 bags as of May 9. There were 14,310 bags of coffee pending grading, the exchange said. Volume reached an estimated 11,747 lots on the day. 131053 MET may 97