Embrapa Report Trounces Coffee

  • December 21, 1999
  • Marc Dupee

A long-awaited estimate of the crop from Embrapa, the Brazilian government’s research body, showed coffee has been negatively impacted by dry weather but outlooks for production were not as bad as feared, sending New York March futures more than 10% lower on the news.

Pork bellies are up on a short covering rally following the USDA’s cold storage report that showed higher-than-expected consumption in the face of rising inventories.

Nasdaq 100 futures continue to dominate the Momentum-5 List and are rallying to new highs again.

Natural gas is sinking as weather forecasts in one of the major consuming regions, the Mid West, are predicting a warming trend.


Here are the highlights around noon Eastern time:






























Stock Index and Bond Futures


  • March T-bonds [USH0>USH0]: -6/32 to 91 14/32
  • March S&Ps [SPH0>SPH0]: +6.00 to 1441.00
  • March Dow futures [DJH0>DJH0]: +5.0 to 11,265.0
  • March NASDAQ 100 futures [NDH0>NDH0]: +31.50 to 3478.00



Currencies


  • March dollar index futures [DXH0>DXH0]: unchanged at 101.51
  • Japanese yen futures [JYH0>JYH0]: +.0047 to .9940


Energies

  • January unleaded gas [HUF0>HUF0]: -.0104 to .7220

  • January natural gas [NGF0>NGF0]: -.089 to 2.540


Metals


  • February gold [GCG0>GCG0]: -1.5 to 284.5

  • March copper [HGH0>HGH0]: -1.10 to 83.55


Grains

  • March wheat [WH0>WH0]: -2 to 247



Meats


  • February pork bellies [PBG0>PBG0]: +2.325 to 80.050
  • February lean hogs [LHG0>LHG0]: +.500 to 56.150


Softs and Fibers


  • March cocoa [CCH0>CCH0]: -3 to 822
  • March coffee [KCH0>KCH0]: -14.05 to 121.25