CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 22. svibnja 1997. Differentials /svibanj/ ZADNJA Santos 4's 56 cts under "C" 204.30 N Colombian MAMs 40 cts over "C" 300.30 N El Salvador 25 cts over "C" 285.30 N Mexican 20 cts over "C" 280.30 N Guatemala 26 cts over "C" 286.30 N Peru 20 cts over "C" 280.30 N Uganda Pmy Robs 12 cts over London 106.44 N Indonesia EK1 4 cts under London 90.44 N Ecuador Ext Sup 16 cts under "C" 244.30 N NEW YORK - KAVA cijene pri zatvaranju burze 22. svibnja 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO SEC EDNJA RANJE VIŠA NIŽA RANJE DBE JUL7 259.00 254.00 265.00 254.00 258.50 260.30 2 SEP7 228.00 228.50 233.50 226.25 228.00 229.95 2 DEC7 200.00 200.00 202.15 197.00 199.50 199.85 1 MAR8 184.00 186.00 188.00 183.00 183.00 183.35 1 MAY8 175.00 176.00 177.00 175.00 175.00 175.65 1 JUL8 169.50 169.50 169.50 169.50 168.00 168.50 1 SEP8 162.00 162.00 162.00 162.00 162.00 162.50 1 DEC8 CSCE coffee ends up, but profit taking trims gains NEW YORK, May 22 (Reuter) - CSCE coffee futures continued their bull run Thursday as speculative buying drove nearby contracts to new life-of-contract highs, traders said. But a sudden burst of profit taking just ahead of the close cut deeply into earlier gains, they said. "The market failed to pick up more momentum and people took profits," said one trader. "It's really vicious this market." Benchmark July arabicas shot up to a fresh lifetime high of 265.00 cents a lb -- a near-term resistance level -- before the rally ran out of steam. By the close, July stood at 260.30 cents, up 7.20 cents on the day. The day's low was 254.00 cents. Second-position September settled up 4.90 cents at 229.95 cents after setting a new contract high of 233.50 cents. The outer months finished up 0.40 to 3.70. The July/September switch ballooned to 30.35 cents compared with 28.05 cents at the close on Wednesday. Coffee prices charged higher at the outset, defying the pre-opening call, as locals and speculators followed through on Wednesday's explosive rally. Upward momentum picked up after the July contract broke through 262.00 chart resistance, triggering buy-stops. "It was just an extention of yesterday's gains," said Smith Barney analyst Walt Spilka. "And they may have priced in a potential weather problem." Traders said weather outlooks on Thursday calling for cooler temperatures moving into top-grower Brazil late this week continued to underpin prices. Although forecasters stated that the colder air is not expected to cause damage to Brazil's coffee trees, any talk of temperatures dropping at a time when inventories hover near 20-year lows is likely to spark some panicky buying, traders said. Additionally, traders took note of a long-term weather outlook, which predicted below normal temperatures in portions of Brazil's coffee belt through July. In a monthly bulletin, Brazilian independent forecasters Somar said two of Brazil's key coffee regions -- the north Sao Paulo state and southern Minas Gerais -- may see below average temperatures in May through to July. "This is due to the entry of cold air masses, which, together with clear skies (common in winter), favors low temperatures in the early mornings," Somar said. In the bulletin Somar also mentioned signs of the return of the El Nino weather phenomenon, but said it was "important to remember that its consequences in South America are not immediate." The El Nino phenomenon would affect rainfall and temperatures only from next summer, they said. Technically, Smith Barney's Spilka said the market was reaching an extremely overbought level, but noted that many traders may be reluctant to sell ahead of the three-day U.S. Memorial Day week-end when there were projections for colder temperatures in Brazil. But if no damaging cold hits Brazil over the weekend, the market could be in for a sharp downturn, traders said. On the charts, traders pegged July near-term support at 256.60 cents, followed by 250.00 and 239.00. On the upside, July's new lifetime high of 265.00 cents was seen as resistance. After Thursday's close, CSCE reported certified coffee stocks fell by 1,500 bags, to 49,712 bags as of May 21. There was no coffee pending grading, the exchange said. Volume reached an estimated 10,220 lots. 231014 MET may 97