The prices of the world markets
Flash of business activity at the international food stock exchanges on the first trading week of September has surpassed all expectations of the western experts. Sugar and pork became unconditional leaders of the auctions. In the markets of these goods there were the most considerable price (as it has happened with the Chicago futures on pork) or structural changes (like the announcement of renewal of trade by sugar - a raw in London). Analysts have not ignored also price fluctuations in the coffee market, and they have advised to manufacturers of this product to remember history.
contradicting well-known wisdom a little that new is well forgotten old, the management of the London commodity exchange (London Commodity Exchange - LCE) has declared trade renewal by future contracts on sugar - to a raw of all in half a year after their cancellation. We will remind that on April, 13th, 1993 trade in contracts on a raw in London has been stopped in connection with turn reduction on them. On Friday, on September, 3rd Exchange council of the London commodity exchange has made an official statement about the beginning of trade futures on sugar - to a raw since October, 1st of this year. Development of the project of conditions of trade by new contracts has begun right after an official statement. It is supposed that new contracts on a raw will be quoted in London in cents of the USA for pound, like the auctions in New York, instead of in dollars for ton as it was with the futures cancelled in April. In contracts the standard on colour of sugar that will help to avoid the problems which have arisen on nju - jorkskoj Coffee, Sugar and Cocoa Exchange (CSCE) concerning definition of a rating of sugar - a raw delivered under repayment of contracts will be provided.
management LCE regards prospects of renewal of trade in sugar - a raw rather optimistically. The main chief executive LCE Robin Vudhed (Robin Woodhead) has noticed in interview to correspondent REUTER about it: “ We are glad that we have possibility again to work with futures on a raw, and we hope that new contracts will organically add ours successfully emerging market of futures on the refined sugar “. Confirming opinion of the management, one of the London dealers has added: “ Right now there has come the optimum moment for renewal of trade by a raw and toughenings of a competition with nju - jorkskoj a stock exchange “. Such point of view is confirmed quite with the comparative analysis of trade with lump sugar in London and a raw in New York. The auctions on the refined sugar on LCE within last month passed without considerable price fluctuations. So, on September, 7th the price of ton of the refined sugar has made $267,5 in comparison with the price for August, 3rd in $262,5 for ton (+1,9 %), and a turn of trade in contracts constantly increased. At auctions CSCE in New York on September, 7th the raw pound cost 9,29 cents in comparison with 9,61 cents on August, 3rd (- 3,33 %), and the turn was reduced. And, under forecasts of group of analysts of the world commodity markets of magazine Economist, in September the price of futures on a raw in New York will not rise above 9,50 cents for pound.
in trade in pork on Chicago Mercantile Exchange last week too there was remarkable enough event - the occurrence first in this year “ the Russian factor “. The matter is that in Chicago some days successively persistently circulated hearings about intentions of Russia to buy 30 thousand tons of pork under the program of stimulation of export by the government of the USA. It also has led to rise in prices of October future contracts on pork to the higher marks for all time of trade in them - 48,225 cents for pound.
manufacturers of coffee in the intentions to lift the world prices for these goods, have forgotten history. To such conclusion experts of German statistical group F have come. O. Licht in the review of a condition of the market of the coffee, published on September, 6th. Estimating “ the detention scheme “ goods parts in warehouses of manufacturers, observers have noticed that unilateral attempts of manufacturers of any goods to inflate on it the prices yet did not lead to appreciable changes in the world prices. So in 1975 the pact of manufacturers of cocoa, in 1985 has failed - Similar attempts of manufacturers of tin, and at the moment the OPEC countries unsuccessfully try to raise the prices for crude oil. Delay of rates of increase of the prices observed in last days on coffee can serve in London as the proof of such point of view. So, on September, 6th the price of ton of coffee “ robusta coffee “ on LCE fell to $1223 (November contracts) in comparison with the price in the $1281, fixed on August, 30th.
ELENA - ZAGORODNJAJA