CIJNE KAVE NA BURZI U NEW YORK-
SAD - KAVA Trgovačke spot cijene 06. studenoga 1996.
Differentials ZADNJA
Santos 4's 4 cts under "C" 120.30 N
Colombian MAMs 24 cts over "C" 148.30 N
El Salvador 8 cts over "C" 132.30 N
Mexican 7 cts over "C" 130.30 N
Guatemala 8 cts over "C" 131.30 N
Peru 6 cts over "C" 130.30 N
Uganda Pmy Robs 4 cts over London 72.49 N
Indonesia EK1 2 cts under London 66.49 N
Ecuador Ext Sup 8 cts under "C" 116.30 N
NEW YORK - KAVA cijene pri zatvaranju burze 06. studenoga 1996.
MJE POSLJ OTVA NAJ NAJ ZATVA NAGO
SEC EDNJA RANJE VIŠA NIŽA RANJE DBE
DEC6 124.00 118.75 124.60 118.75 124.00 124.30 1
MAR7 111.00 107.90 111.75 107.90 110.90 111.40 1
MAY7 107.75 105.00 107.75 105.00 107.50 107.50 1
JUL7 106.50 104.25 106.50 104.25 106.40 106.50 1
SEP7 105.75 103.25 105.75 103.70 105.25 105.45 1
DEC7 102.00 104.00 104.40 1
MAR8 101.00 104.50 105.00 1
CSCE coffee ends up sharply, Dec at 11-week high
NEW YORK, Nov 6 (Reuter) - CSCE spot coffee futures on
Wednesday climbed to their highest level in nearly three
months, buoyed by persistent concerns about prompt supplies,
traders said.
"There is not much coffee left to come out of the
woodwork," said Merrill Lynch analyst Judith Ganes. "And
European roasters are outbidding U.S. roasters."
A late harvest in Central America due to heavy rainfall,
coupled with a recent truckers' strike in Colombia, delayed
shipments of the new 1996/97 crop to key consuming countries.
Faced with shrinking inventories, coffee roasters have
been forced to pay steep premiums on prompt parcels to meet
processing needs.
Underscoring the supply crunch, the CSCE reported earlier
this week that U.S. certified coffee stocks had dwindled to a
mere 804 bags, the equivalent of about three lots of coffee,
with no coffee pending grading or recertification.
"We have had consecutive drawdowns in stocks going into
the highest consumption period from December to February,"
another analyst said. "The nearby tightness is giving strong
underlying support to the market."
December delivery surged 5.45 cents a lb on the day to
finish at 124.30, its highest settlement since Aug 26.
Most-active March rose 3.50, to 111.40.
Today's run-up was justified by tight fundamentals,
analysts said, but bullish technical factors also provided
impetus.
The market raced though initial chart resistance this
morning at 120.00 cents basis December, but stalled at last
week's high of 123.00 after producer selling capped the gains.
However, a renewed bid by commodity funds to test the
123.00 level lifted December to a session high of 124.60
cents.
"There was a lot of momentum to the upside and everyone
piled on," a trader said.
The December/March switch ballooned to 12.90 cents, up
sharply from 10.95 cents at the close on Tuesday.
Technically, the December contract faced short-term
resistance at 125.00, with strong resistance seen at 128.50.
Although supply jitters were likely to dominate the market
until then, analysts said a steady increase in the flow of
exports from key producing countries should calm the market by
the time December goes off the boards.
"Eventually the coffee is going to come to market," an
analyst said. "There will probably tightness until the end of
the year."
The day's volume was heavy at an estimated 11,377 lots.
071138 MET nov 96
(Hina) rt fp