Coffee maintains volatility and Arabica drops 1.21% in the weekly accumulated on US Stock Exchange
Raw Common Coffee Bean
Brazil
Published Mar 16, 2024
Tridge summary
Arabica coffee futures market closed Friday (15) with technical adjustments. May/24 had a drop of 90 points, worth 182.95 cents/lbp, July/24 had 60 points, quoted at 181.65 cents/lbP, September/24 had 50 points, worth 181.35 cents/ lbp, and December/24 had 55 points, quoted for 181.05 cents/lb p. The reference contract fell 1.21% weekly. The Arabica coffee market continues to be driven by support from London.
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
After opening the day with price appreciation, the Arabica coffee futures market closed Friday (15) with technical adjustments for the main contracts on the New York Stock Exchange (ICE Future US). May/24 had a drop of 90 points, worth 182.95 cents/lbp, July/24 had a drop of 60 points, quoted at 181.65 cents/lbp, September/24 had a drop of 50 points, worth 181.35 cents/ lbp and December/24 had a drop of 55 points, quoted at 181.05 cents/lbp. The reference contract fell 1.21% weekly. The Arabica coffee market continues to be driven by support from London. Concern about the global supply of Robusta still weighs heavily, and keeps prices high, despite the approach of Brazil's harvest. According to analysts, there is no prospect of change until at least the second half of the year, but producers need to be alert because the marked volatility will also be maintained. "In a downside, Rabobank on Thursday forecast a coffee surplus of 4.5 million bags for the next marketing year 2024-25, ...
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