kell March 07, 2018
SOFTS-NY cocoa climbs to 14-month high, raw sugar edges up https://af.reuters.com/article/commoditiesNews/idAFL8N1QK3CK
Cepea, February 16, 2018 – Green coffee shipments started 2018 at a slow pace and may continue slow throughout this 2017/18 season. This scenario has been observed since 2017, because of refrained sellers, low supply in Brazil and the low interest of purchasers, who may wait for the beginning of the 2018/19 national crop to buy higher volumes. Besides the positive biennial cycle for arabica next crop, good weather conditions have helped the grains filling process for both varieties, arabica and robusta, and crops renewal, mainly for robusta, which may allow a large crop this year.
Coffee Exporters Council, known as Cecafé, says that, in the partial of the season (from July/17 to January/18), 16.31 million 60-kilo bags of green beans (arabica and robusta) were shipped, for a decrease of 11.2% compared to the same period last season (2016/17).
According to the last report released by Unica (Brazilian Sugarcane Industry Association), in the current crop (until Feb. 1, 2018), mills from central-southern BR have produced 35.831 million tons of sugar. If forecasts are confirmed, sugar production will decrease by 4 – 5 million tons in the 2018/19 crop.
Managed money open interest -46K contracts, down -10K in a week.
Brazilian coffee farmers see current prices as insufficient to cover costs and have no intention of selling at the moment, despite a looming...
Raw sugar rebounds sharply from 8-month low as March expires