US tests new highs for coffee this Tuesday: Market following crop estimates in Brazil

Published 2023년 2월 28일

Tridge summary

The article reports on the significant increase in Arabica coffee futures on the New York and London stock exchanges. The May/23 futures reached 187.25 cents/lbp on the New York Stock Exchange and $2134 per ton in London. The market is now focused on the private estimates for Brazil's 2023 and 2024 coffee crops. The rise in prices is also attributed to a decrease in ICE certified stocks, with a drop of 5,562 bags reported in the previous day. However, the internal market saw a decrease in the type 6 hard drink bica bola and peeled cherry in various Brazilian cities.

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Original content

The Arabica coffee futures market opened trading this Tuesday (28) testing new highs on the New York Stock Exchange (ICE Future US). Around 8:37 am (Brasília time), May/23 was up 85 points, trading at 187.25 cents/lbp, July/23 was up 70 points, worth 185.60 cents/lbp, September/23 was up of 25 points, traded for 183 cents/lbp and December/23 was up 125 points, worth 181.95 cents/lbp. In London, the conilon type cafe opened with stability. May/23 was up by US$ 1 per ton, traded at US$ 2134, July/23 was traded at US$ 2121 - unchanged, September/23 was up by US$ 1 per ton, worth US$ 2100 and November/ 23 was up $4 a tonne, trading at $2071. According to the latest analysis by the Carvalhaes Office, the market's attention is now turning to the numerous private estimates for this year's and 2024 crops in Brazil. "None of these estimates is accompanied by the calculation methodology used to arrive at the result presented. In a country like Brazil, of continental dimensions, with its ...

Source: NoticiasAgricolas