Coffee Market Report
| The Certified washed Arabica coffee stocks held against the New York exchange were seen to increase by 3,580 bags yesterday, to register these stocks at 858,474 bags, with 97.70% of these certified stocks held in, Europe at a total of 838,720 bags and the remaining 2.30% being held in the USA at a total 19,754 Bags. Of this, a total 403,218 bags, or 46.97% of the coffees registered and stored in consumer country certified warehouses of the exchange, are Brazil washed arabica, and a further 12.03% of these certified coffees, from Honduras. The pending grading stocks were seen to decrease by 10,940 bags; to register 31,931 bags pending grading on the day.
The November 2024 to December 2024 contract arbitrage between the London and New York markets narrowed yesterday, to register this at 19.11 Usc/Lb. This equates to 7.66% price discount for the London robusta coffee. It was a firmer day on the commodity markets yesterday. The Coffee, Sugar, Corn, Soybean, Gold, Silver, Platinum and Palladium markets ended the day on a firmer note, while the Arabica Cocoa and Wheat markets ended the day on a softer note. The day starts with the U.S. Dollar trading at 1.315 Sterling, at 1.109 the Euro and with the US Dollar buying 5.627 Brazil Real. The London market ended the day on a firmer note with 64.49% of the earlier gains of the day intact, while the New York market ended the day, likewise, on a firmer note, with 63.95% of the earlier gains of the day intact, following a comparatively modest volume day in both markets, to set the close, against the prices set yesterday: LONDON ROBUSTA US$/MT NEW YORK USC/LB. NOV 5077 + 69 DEC 249.40 + 2.75 |
