Wednesday, May 30, 2012

Rabobank: "Arabica coffee 'most undervalued' soft commodity"

From Agrimoney:
Arabica coffee is "the most undervalued" member of the soft commodities complex, Rabobank said, forecasting a decline in prices of robusta coffee, and downgrading forecasts for cocoa, cotton and sugar futures.
The bank raised its hopes for robusta coffee, the type traded in London, noting the tighter-than-expected supplies of the bean which lifted futures- briefly – to an eight-month high of $2,190 a tonne on Monday.
However, even the raised price outlook foresees a slight decline in robusta values ahead.
Robusta supplies from exporters other than Vietnam, the top grower, shows shipments are tailing off, "will limit prices to the upside", Rabobank said....MORE