17:13 UK, 26th Jun 2015, by Agrimoney.com
ABN Amro, citing the improved prospects for Brazil's coffee harvest, warned of more cuts in arabica prices yet to come, and foresaw a retreat in cocoa futures too even as they hit a nine-month high. The bank trimmed by 5 cents to 125 cents a pound its forecast for New York-traded arabica coffee futures for the September timescale, taking the forecast further below the 135.05 cents a pound at which September futures were trading at on Friday. Futures will end the year at about 115 cents a pound – implying a steep drop from the 139.50 cents a pound investors are pricing in, in the December futures contract.
16:21 UK, 9th Jun 2015, by Agrimoney.com
Brazilian officials defied the rising trend of market expectations for the country's coffee harvest this year by issuing a lowball estimate, at the bottom end of the range of their previous output forecast, citing "deficient moisture" in major robusta-growing areas. Conab, a Brazilian state owned agricultural supply company, sees Brazilian production falling to its lowest level in four years, at 44.3m 60kg bags, down 2.3% from the 45.3m bags produced last year, with robusta production estimates sharply down, while arabica production is pegged at the lower end of previous estimates. Conab forecast Brazilian 2015 coffee production at between 44.1m-46.6m bags in January of this year.
22:30 UK, 3rd May 2015, by Agrimoney.com
Brazil's sugar exports will fall, a little, in 2015-16 for a third successive season despite a recovery in cane production, as mills divert more crop to making ethanol, US farm officials said. The US Department of Agriculture's Brasilia bureau, in its first estimate for Brazil's cane crop for the season which started last month, pegged it at 648m tonnes, a rise of 19.4m tonnes year on year.
