With an eye on the macro, coffee follows the day of lows in New York in the US and London in UK

Published 2023년 3월 15일

Tridge summary

The article reports a decrease in the prices of Arabica coffee futures on the New York and London stock exchanges on March 15, 2023. This decline is attributed to the broader trend of falling commodity prices, influenced by the financial instability in the US. Additionally, the article mentions that Brazil's coffee production estimate for the 2022/23 season has been raised to 58.9 million bags from 57.3 million, according to Safras & Mercado. However, the article does not provide any updates on the progress of coffee businesses.

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

Original content

The Arabica coffee futures market began trading this Wednesday (15) with a devaluation of the main contracts on the New York Stock Exchange (ICE Future US). The market follows the losses of other commodities, still focused on the macro scenario and the uncertainties caused by the new collapse of banks in the US. Around 8:26 am (Brasília time), May/23 was down 375 points, traded at 171.70 cents/lbp, July/23 was down 365 points, quoted at 171.05 cents/lbp, September/23 was drop of 340 points, traded at 169.70 cents/lbp and December/23 had a low of 330 points, worth 168 cents/lbp. In London, the conilon also opened with a devaluation. May/23 was down by US$ 16 per ton, worth US$ 2064, July/23 was down by US$ 15 per ton, worth US$ 2055, September/23 was down by US$ 15 per ton, traded at US$ 2038 and November/23 had a low of US$ 19 per ton, worth US$ 1998. The numbers released recently by Safras & Mercado also put pressure on ...

Source: NoticiasAgricolas