CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 15. svibnja 1997. Differentials /svibanj/ ZADNJA Santos 4's 18 cts under "C" 237.20 N Colombian MAMs 48 cts over "C" 303.20 N El Salvador 22 cts over "C" 277.20 N Mexican 18 cts over "C" 273.20 N Guatemala 22 cts over "C" 277.20 N Peru 19 cts over "C" 274.20 N Uganda Pmy Robs 10 cts over London 97.68 N Indonesia EK1 4 cts under London 83.68 N Ecuador Ext Sup 14 cts under "C" 241.20 N NEW YORK - KAVA cijene pri zatvaranju burze 15. svibnja 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO SEC EDNJA RANJE VIŠA NIŽA RANJE DBE MAY7 277.00 264.50 279.00 260.00 277.00 277.05 2 JUL7 255.00 242.00 262.00 238.00 254.00 255.20 2 SEP7 227.50 215.50 233.00 213.00 226.00 227.15 2 DEC7 197.95 191.25 197.95 189.50 197.95 202.20 1 MAR8 183.65 177.00 183.65 176.00 183.65 187.20 1 MAY8 176.00 169.00 176.00 170.00 176.00 176.70 1 JUL8 160.00 166.50 166.50 1 SEP8 155.50 155.00 155.50 155.00 159.25 159.25 1 CSCE coffee rallies sharply, May hits 20-year high NEW YORK, May 15 (Reuter) - CSCE coffee futures staged a dizzying rally on Thursday with contracts rocketing to 20-year highs as speculators led a broad-based buying frenzy amid a background of tight supply, traders said. "The market is still responding to tightness," said Dean Witter analyst Steve Platt. "And there's a lack of sellers, people are very cautious. The market's to it's own devices right now and has not encountered much in the way of resistance." Benchmark July surged more that 20 cents per lb at one point to a peak of 262.00 cents, before a round of profit-taking pared gains. It settled up 14.60 at 255.20 cents, up roughly six percent on the day. Spot May soared 15.55 cents, to 277.05 cents, after peaking at 279.00 cents, its highest price since 1977. The back months closed 6.00 to 11.65 higher. Some traders said today's buying was sparked by long-term weather outlooks calling for a cool airmass to make its way into Argentina -- and possibly seeping into southern Brazil -- next week. But forecasters warned the chance of damaging frost was slim. "It is going to turn much colder in Argentina next week," said Weather Services Corp. meterologist Mike Palmerino. "Some cool air could spill into Brazil, but its a far cry from having a freeze in Brazil's coffee areas." Palmerino said damaging frost was unlikely because the airmass was not expected to reach far enough north and it is still too early in the season to see a freeze in the coffee growing areas. The earliest damaging freeze in Brazil on record was May 30-31. But with inventories in both consuming and producing countries near 20-year lows, traders said any sign of cool weather in top-grower Brazil was likely to spur panicky buying. 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. "Even though the colder weather next week is not expected to impact the coffee belt, we are getting near to the freeze season and people do not want to be short," said Platt. Additionally, traders said talk of only a 50,000 to 100,000-bag increase of green coffee stocks during April may have sparked some buying. The Green Coffee Association of New York, however, reported after the close that stocks of green coffee stored in U.S. warehouses rose in April by 198,000 60-kg bags, to 1,855,000 bags. Although there was also talk that the bulk of the stock increase could be from robusta coffee, some traders said the figures could weigh on the market. "The numbers are bearish," said one trader. "I think we will see the market pull back tomorrow." So far this week, the active July contract jumped 37.30 cents -- or more than 17 percent. Traders said bullish sentiment was 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. Although Merrill Lynch did not specify a price, the highest price on CSCE was 340.70 cents a lb set April 14, 1977. Worries about supply have fueled coffee's stunning upswing since the end of last year. Analysts said smaller-than-expected crops in many Latin American countries -- most notably second-largest producer Colombia -- and the prospects for a smaller crop in the coming 1997/98 season in top-grower Brazil contributed to concerns. Although the market is due for a technical retracement, traders said the onset of winter in Brazil was likely to make any setback temporary. Technically, traders pegged July support at 248-246, while resistance was seen at today's high basis the May contract of 279.00. After the close, the CSCE reported certified coffee stocks continued to climb. Stocks increased by 1,770 bags, to 37,182 bags as of May 12. There were 18,040 bags of coffee pending grading, the exchange said. Volume reached an estimated 15,180 lots on the day. 161046 MET may 97