USA: Despite financial concerns, coffee reverses and tests new highs this Monday

Published 2023년 3월 20일

Tridge summary

The Arabica coffee futures market experienced a slight increase at the end of trading on Monday, with May/23 up 190 points, July/23 up 205 points, September/23 up 195 points, and December/23 up 180 points on the New York Stock Exchange. In London, conilon also ended with appreciation. However, initial falls in coffee prices were observed due to concerns over banking turmoil in the US and Europe potentially pushing the global economy into recession. Despite expectations of a resumption of production, Brazil will still not reach maximum load this year due to years of drought and frost. The market is currently slower than in previous years, with both producers and buyers waiting for better prices, leading to more pronounced volatility.

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

Original content

After operating most of the day with devaluation in the main quotations, the Arabica coffee futures market ended trading this Monday (20) with slight increases on the New York Stock Exchange (ICE Future US). May/23 was up 190 points, traded at 178.50 cents/lbp, July/23 was up 205 points, quoted at 177.50 cents/lbp, September/23 was up 195 points, quoted at 175.70 cents/lbp and December/23 rose 180 points, quoted at 173.70 cents/lbp. In London, the conilon also turned around and ended with appreciation. May/23 was up by US$ 23 per ton, traded at US$ 2087, July/23 was up by US$ 18 per ton, traded at US$ 2072, September/23 was up by US$ 7 per ton, traded at US$ 2041 and November/23 had an increase of US$ 4 per ton, worth US$ 2004. "Coffee prices initially fell today on concern that the persistent banking turmoil in the US and Europe will push the global economy into recession and reduce demand for commodities, including coffee", highlighted the international analysis of the Barchart ...

Source: NoticiasAgricolas