USA: After confirmation of drop in shipments, coffee opens with technical adjustments in New York

Published 2023년 3월 10일

Tridge summary

The Arabica coffee futures market saw price adjustments on the New York Stock Exchange following a confirmation from the Brazilian Coffee Exporters Council that Brazil's coffee shipments have significantly dropped. In February 2023, Brazil's domestic shipments totaled 2.396 million 60 kg bags, generating revenue of US$ 505.9 million, marking a 33.3% decrease in volume and a 38.5% decrease in billing compared to the same period last year. As a result, the average price per bag also fell by 7.9%. Similarly, the conilon coffee market in London also underwent technical adjustments.

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

Original content

The Arabica coffee futures market opened trading this Friday (10) with technical adjustments to prices on the New York Stock Exchange (ICE Future US). Coffee starts the day with adjustments after the Brazilian Coffee Exporters Council (Cecafé) confirmed a significant drop in shipments from Brazil last month. National shipments of the product, in February 2023, totaled 2.396 million 60 kg bags, generating foreign exchange revenue of US$ 505.9 million. The performance implies drops of 33.3% in volume and 38.5% in billing compared to the second month of last year, as the average price per bag, of US$ 211.13, retreats 7.9% in same interval. Around 8:49 am (Brasília time), May/23 was up 30 points, traded at 175.35 cents/lbp, July/23 was up 10 points, quoted at 174.10 cents/lbp, September/23 was high of 25 points, worth 173.35 cents/lbp and December/23 was high of 35 points, worth ...

Source: NoticiasAgricolas