Brazil: Arabica finds support in Asian concerns and closes higher in the US and UK stock exchanges

Raw Common Coffee Bean

United Kingdom

Published Mar 26, 2024

Tridge summary

The Arabica coffee futures market experienced slight gains on the New York Stock Exchange, particularly noted in the May/24 contract with an 80-point increase, amidst stable market fundamentals and a keen eye on Brazil's weather conditions. These gains are supported by concerns over Asia, yet buoyed by expectations of strong demand linked to a recovering global economy. Concurrently, Robusta coffee futures in London saw more pronounced rises due to supply worries. In Brazil, local coffee prices witnessed minor changes, mirroring the specific conditions of the domestic market.

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Original content

The Arabica coffee futures market ended the first trading day of the week with slight increases in the main contracts on the New York Stock Exchange (ICE Future US). May/24 recorded an increase of 80 points, trading at 185.65 cents/lbp, while July/24 saw an increase of 90 points, reaching 184.90 cents/lbp. The September/24 contract had an appreciation of 95 points, being quoted at 184.50 cents/lbp, and December/24 had an increase of 105 points, reaching 184.20 cents/lbp. The market remains attentive to weather conditions in Brazil. However, with fundamentals still unchanged, Arabica coffee is supported by concerns related to Asia and expectations of more robust demand amid an improving global economy. Analysts say that the moment remains favorable to the producer, especially for negotiations aimed at the next harvest. However, volatility is expected to persist, at least until the start of the Brazilian harvest. In London, Robusta coffee showed a more significant increase, still ...

Source: Portal Do Agronegocio