World Market: October 16-30, 2014

摘要

World coffee futures generally saw declines in the second half of October. Forecasts for improved weather in Brazil prompted lower prices, after dry weather conditions elevated arabica futures to their highest level since February 2012 in the first half of the month. Robusta futures had reached their highest level since April before the turnaround in arabicas prompted a downward movement in prices. However, there were some slight rebounds in the robusta segment although the levels seen in mid-Octoberwere far above recent prices. Further downward pressure for commodity markets came from the presidential election in Brazil where the re-election of incumbent Dilma Rousseff weakened the Real currency.The front-month December arabica contract in London closed at 187.60 cents per lb, falling to the lowest since September 29 at 186.25 cents on Thursday. This was 13% below the 216 cents/lb seen on October 15. The strong dollar combined with continued forecasts for rain in parts of Brazil's coffee belt weighed on arabica futures. The second-month March contract shed 21.90 cents to 198.00 cents/lb.The front-month November robusta contract in London settled at $2,036 per tonne, down from $2,155 (-5%). The most-active January contract closed at $2,037, down from $2,172. Both contracts hit temporary four-week lows on October 23 ($2,008 and $2,022, respectively) before rebounding somewhat.The arabica premium over robustas for the two front-month contracts declined to 95.25 cents/lb from124.15 on October 14, which had been the highest since February 2012.