USA: Arabica coffee ends with correction, while concern about Vietnamese offer

Published 2023년 3월 1일

Tridge summary

The Arabica coffee futures market experienced a devaluation in the main contracts on the New York Stock Exchange on March 1, following a month of price volatility. The devaluation was observed across various future dates, with particular focus on Brazil's coffee exports, which saw a 42% decrease in February. While the London Stock Exchange saw an appreciation in prices, the Brazilian market mirrored the New York decline, with local commercial centers also experiencing a devaluation in Arabica coffee prices.

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Original content

The Arabica coffee futures market closed trading this Wednesday (1st) with a devaluation for the main contracts on the New York Stock Exchange (ICE Future US). After a month of high volatility in prices, March began with a technical correction in negotiations. May/23 had a drop of 275 points, traded at 183.55 cents/lbp, July/23 had a drop of 275 points, quoted at 182.15 cents/lbp, September/23 had a devaluation of 265 points, worth 180.15 cents /lbp and December/23 had a drop of 260 points, worth 178.15 cents/lbp. According to Haroldo Bonfá, an analyst at Pharos Consultoria, for the next few days the market will keep its focus on exports from Brazil, which should drive prices. In January, the volume was already below three million bags. This Wednesday (1) data from the Foreign Trade Secretariat (Secex) indicated this Wednesday (1) that Brazil exported 42% less coffee in February, with shipments of 2,040 million bags. In the same period in 2022, the country shipped 3,471 million ...

Source: NoticiasAgricolas