USA: Coffee market works with devaluation this Wednesday afternoon in NY and London

Published 2023년 3월 22일

Tridge summary

Arabica coffee futures contracts saw a decline on the New York and London Stock Exchanges on March 22, with significant devaluations in contracts expiring in May through December. This market consolidation follows a rise in prices earlier in the week, with the depreciation of the dollar also contributing to the price support. Additionally, Ugandan coffee exports in February experienced a 6% year-on-year increase, driven by higher prices leading to the release of more stock from warehouses. The financial market is currently monitoring the monetary policy decisions of the Federal Reserve and the Central Bank of Brazil, amidst concerns following the collapse of foreign banks, which could signal a potential global financial crisis. The spot dollar rate against the real showed slight fluctuations, with a slight increase at 9:34 am.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Wednesday afternoon (22), Arabica coffee futures contracts operated with devaluations on the New York Stock Exchange (Ice Futures US), in which they showed falls of 250 to 265 points. On the London Stock Exchange, negotiations also work with lows in this trading session. At around 1:09 pm (Brasília time), the May/23 expiration date, which had dropped by 250 points and was quoted at 177.80 cents/lbp. The July/23 contract has a loss of 265 points and is priced at 176.60 cents/lbp. In the case of September/23, it operated with a devaluation of 255 points and quoted at 174.75 cents/lbp and December/23 worked with a drop of 255 points and priced at R$ 172.65 cents/lbp. In London, the May/23 contract registered a drop of US$ 09 per ton, negotiated for US$ 2122. The July/23 contract registered a low of US$ 11 per ton and worth US$ 2104, the September/23 registered a devaluation of US$ 11 per ton and quoted at $2074. According to information from the Reuters agency, dealers reported ...

Source: NoticiasAgricolas