CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 21. svibnja 1997. Differentials /svibanj/ ZADNJA Santos 4's 30 cts under "C" 223.10 N Colombian MAMs 50 cts over "C" 303.10 N El Salvador 25 cts over "C" 278.10 N Mexican 20 cts over "C" 273.10 N Guatemala 26 cts over "C" 279.10 N Peru 20 cts over "C" 273.10 N Uganda Pmy Robs 12 cts over London 106.80 N Indonesia EK1 4 cts under London 90.80 N Ecuador Ext Sup 14 cts under "C" 239.10 N NEW YORK - KAVA cijene pri zatvaranju burze 21. svibnja 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO SEC EDNJA RANJE VIŠA NIŽA RANJE DBE JUL7 255.00 239.00 255.00 239.00 251.25 253.10 2 SEP7 225.50 215.00 226.00 214.80 224.00 225.05 2 DEC7 196.15 190.00 196.15 190.00 196.15 196.15 1 MAR8 183.00 177.00 183.00 177.00 183.00 183.00 1 MAY8 173.00 171.00 175.20 171.00 173.00 173.00 1 JUL8 169.05 164.00 169.05 164.00 162.00 168.10 1 SEP8 158.00 156.00 158.00 158.00 158.50 160.10 1 DEC8 CSCE coffee surges after ACPC extends quotas NEW YORK, May 21 (Reuter) - After pulling back for three sessions in a row, CSCE coffee futures charged back with a vengeance on Wednesday as speculators bought heavily amid news the Association of Coffee Producing Countries (ACPC) extended coffee export quotas, market sources said. "Talk the ACPC was loosening quotas was part of the bearish news affecting the market over the last few days," said Allendale analyst Jim Cordier. "The fact they're not going to follow through on that is bullish. Floor traders also attributed the market's run-up to weather outlooks calling for cooler weather in top-producer Brazil by the end of this week. Forecasters said the colder air is not expected to cause damage, but traders said any drop in temperatures was bound to spur nervous buying. July arabicas soared 12.85 cents per lb -- more than five percent -- on the day, to end at 253.10 cents, after ranging from 255.00 and 239.00 cents. Second-position September jumped 10.35 cents to 225.05 cents, while the outer months finished up 3.80 to 6.60. Prices dipped in early going, pressured by a bout of light trade selling, dealers said. July arabicas fell to a low of 239.00 cents, just shy of key chart support at 238.00 cents. But as news of the ACPC's decision to continue current export limits made its way into the market, prices quickly reversed course. The 14-nation ACPC, which ended talks in London on Wednesday, reached an accord to limits export quotas at 52.75 million bags for one year starting July 1. This compared with a cap for 1996/97 orginally set at 53.55 million 60-kg bags but later reduced by 800,000 bags. A statement from the group said the goal was "to ensure prices remain at a level remunerative to producers." Additionally, the ACPC made provision to juggle supply within their one-year limit on a seasonal basis in line with fluctuating markets. Talk earlier in the week that the ACPC might revise or scrap export quotas all together contributed to bearish sentiment the past three sessions, traders said. "The market is coming back to levels seen early in the week," said Merrill Lynch analyst Judith Ganes. "It had failed because people feared the sudden release of coffee hiding in some warehouse." But while the market viewed the ACPC as friendly, most analysts said it would probably have little impact because many producers would still be tempted to sell in order to take advantage of surging prices. "Officially, they put out communiques saying they are sticking by their quota," said one industry source. "But they are going to cheat. They are poor countries and if prices stay at these lofty levels, there are a lot of incentives to sell. All these countries have deficits and they need the money." Low inventory levels in both consuming and producing countries, combined with smaller crops in many Latin America nations and projections for a reduced crop in Brazil next season, have been behind coffee's uninterrupted five-month rally to prices not seen in 20 years. Analysts said the market would be especially sensitive to any reports of cool weather in Brazil. Although weather outlooks today stressed no damaging cold was expected, a drop in temperatures was enough to inspired panicky buying. Smith Barney meteorolgist Jon Davis said in a report on Wednesday that a cold airmass in central Argentina would bring cooler weather in Brazil, with temperatures on Sunday and Monday -- the day's expected to be the coldest -- falling into the 40s F. "These readings are unusually cold for this time of year," he said. "But not down to levels which would cause damage to the developing beans or more importantly, the trees themselves." After Tuesday's close, the CSCE reported certified coffee stocks continued to climb. Stocks increased by 2,250 bags, to 51,212 bags as of May 20. There was no coffee pending grading, the exchange said. Volume reached an estimated 10,885 lots. 221100 MET may 97