News

Coffee has a day of strong price adjustment in the US and UK stock exchanges, but remains focused on Brazil's climate

Raw Common Coffee Bean
Brazil
Published Nov 17, 2023

Tridge summary

The Arabica coffee futures market experienced a significant drop in prices on the New York Stock Exchange due to concerns about the heat in Brazil and long liquidation pressures emerging from rain forecasts. Decreasing ICE coffee stocks also contributed to the decrease in prices. Conversely, on the London Stock Exchange, conilon coffee prices appreciated due to the start of the harvest in Vietnam and the projection that production in Vietnam and Indonesia will not be significant this year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Arabica coffee futures market ended trading this Thursday (16) with a sharp drop in prices on the New York Stock Exchange (ICE Future US). March/24 had a drop of 395 points, traded for 171.20 cents/lbp, May/24 had a drop of 370 points, worth 171.30 cents/lbp, July/24 had a drop of 360 points, worth 172.05 cents/ lbp and September/24 recorded a drop of 355 points, quoted at 172.95 cents/lbp. The market had an adjustment in prices after the rises of the last few days, supported by concerns about the heat in Brazil. "Arabica coffee fell today from a 4-3/4 month high and is in sharp decline as long liquidation pressures emerged due to rain forecasts in Brazil early next week," adds international website Barchart. Decreasing ICE coffee stocks supports coffee prices. Arabica coffee stocks monitored by ICE fell on Tuesday to 297,100 bags, the lowest level in 24 years. According to an analysis by Guilherme Morya, the change in the certified stocks rule justifies the significant drop ...
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