Coffee price base period 3-2016 months rose: London robusta floor to add 7 USD to 1534 USD / t, reaching 120.95 arabica floor cts / lb by rising 1.80 cts / lb.
On the occasion of Christmas, the floor as crude oil futures rose more than 3%, dragging the price of coffee rose to CRB commodity index basket added 1.6% Christmas.
Prices for robusta arabica better increase the standard of floor inventory fell below the 1.75 million bags, while Brazil will listen that dry weather will continue until early May 1-2016.
Weather forecasting firm MDA said the Brazilian coffee region “from now until the end of March 12-2015, less prone to dry rain” in the northern region of Minas Gerais state, and especially the most widely grown Robusta Brazil is Espirito Santo.
However, this phase can be adjusted to increase the hike “encouraged” celebrate Christmas because then, the floor chain term holidays and London will into January delivery with selling pressure 1-2016 or transfer prices months (mainly ‘paper goods’ business and financial).
Group business Cofco Grain (China) has purchased all the shares of agricultural products and foodstuffs sectors of the Noble Group (Singapore). Previously, Noble’s agricultural department was 51% and this Cofco bought this Chinese company bought a full 49% remaining shares by Noble could not find another buyer. Thus, agricultural corporations have confined entirely in the hands Noble Cofco China.
Several months ago, the two companies Standard & Poor’s and Moody’s credit rating threatened credit rating of Noble on the type of “speculative” if its liquidity situation improved refused. Since then, investors give the company Noble makes Athenian difficult to sell to Cofco.