Coffee opens with devaluation, keeping focus on the rains in Brazil and slow marketing

The Arabica coffee futures market opened trading this week with a devaluation for the main contracts on the New York Stock Exchange (ICE Future US). Last week, the reference contract ended with appreciation in the futures market. Coffee continues to be supported by concerns about the Brazilian supply and the sector is monitoring the impacts of excessive rainfall in coffee growing areas in Brazil. The producer continues to participate in the market as he needs to raise cash and sales remain slower than in other years. At around 8:26 am (Brasília time), May/23 was down 120 points, trading at 186.50 cents/lbp, July/23 was down 100 points, worth 185 cents/lbp, September/23 was down by 50 points, worth 183.25 cents/lbp and December/23 had a drop of 60 points, worth 181.05 cents/lbp. On the London Stock ...