CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 18. lipnja 1997. Differentials /svibanj/ ZADNJA Santos 4's 15 cts under "C" 175.05 N Colombian MAMs 35 cts over "C" 225.05 N El Salvador 5 cts over "C" 195.05 N Mexican even to "C" 190.05 N Guatemala 5 cts over "C" 195.05 N Peru 10 cts over to "C" 200.05 N Uganda Pmy Robs 8 cts over London 91.46 N Indonesia EK1 4 cts under London 79.46 N Ecuador Ext Sup 18 cts under "C" 172.05 N NEW YORK - KAVA cijene pri zatvaranju burze 18. lipnja 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO EDNJA RANJE VIŠA NIŽA RANJE DBE JUL7 191.00 209.25 213.50 189.00 189.00 190.05 2 SEP7 175.50 190.70 193.50 175.00 175.00 175.55 1 DEC7 162.70 169.25 170.00 162.70 162.70 156.55 1 MAR8 151.70 158.00 159.00 151.70 151.70 147.55 1 MAY8 147.70 154.00 158.00 147.70 147.70 144.05 1 JUL8 143.70 150.00 143.70 143.70 142.70 140.05 1 SEP8 138.50 145.00 144.00 138.50 138.20 135.55 1 DEC8 CSCE coffee ends down sharply, Sept at 8-week low NEW YORK, June 18 (Reuter) - CSCE coffee futures tumbled on Wednesday, as a late-session round of local and speculative selling drove the benchmark September contract to its lowest settlement since April 22, traders said. September arabicas dropped 15.15 cents per lb -- or about eight percent -- on the day, to 175.50, after ranging from 193.50 to 175.00. Spot July fell 18.65 cents, to 190.05, while the outer months closed 8.65 to 12.15. The July/September switch shrunk to 14.50 cents at the close, from 18.00 cents on Tuesday. Coffee prices rose at the opening, as speculators and locals followed through on Tuesday's sharply higher close, traders said. But September's failure to surpass Tuesday's high of 194.00 cents disheartened buyers and prompted the ring to liquidate their long positions. "It failed at yesterday's high and everything just collapsed," one trader said. Downward momentum picked up after September slipped through support at 185.00 cents, triggering technical sell-stops. Some industry sources said the downturn was heightened by liquidation pressure on the spot contract ahead of July's month-long delivery period on June 20. "There was some distressed liquidation ahead of first notice day," said Dean Witter analyst Steve Platt. "They took advantage of the early rally to unload positions." No new fundamental factors were behind today's sell-off, but some dealers said the USDA world coffee production report released last Friday still weighed on the market. The USDA estimated that Brazil's 1997/98 coffee crop could reach 28 million 60-kg bags, up from a revised 27.5 million in 1996/97. USDA pegged world 1997/98 production at 103.7 million versus 100.7 million in 1996/97. The Brazil government, however, has criticized the USDA estimates, maintaining its 1997/98 forecast of 21 to 22 million still stands. Recent Brazil trade estimates have put next season's crop at around 24 million bags. Since the July contract peaked at a 20-year high of 318.00 cents in late May, prices have plummeted about 40 percent. Some analysts said the market had gotten way ahead of itself and viewed recent losses as a continued correction. "There was not too much new in the market today, but it just shows you how much spec excess there was in the market," said Smith Barney analyst Walt Spilka. "It moved up to 318.00 and is now coming down to appropriate levels. "My guess is that coffee prices will continue to come down unless there's cold weather in Brazil," he added. No damaging cold is expected through early next week in Brazil's coffee belt, U.S.-based forecaster Weather Services Corp said on Wednesday. Typically, June and July are the most dangerous months freezing conditions in the world's largest producer, but so far Brazil's coffee-growing areas has been frost-free. After Wednesday's close, CSCE reported certified coffee stocks fell by 264 bags as of June 17, to 47,286 bags. There were 1,500 bags pending grading, the exchange said. 190957 MET jun 97