Brazil: Coffee market turns around with support from irregular rains and rises again in NY

Published 2024년 1월 31일

Tridge summary

Despite an initial devaluation, Arabica coffee futures prices have been rising on the New York Stock Exchange, with market volatility persisting due to concerns over irregular rainfall in Brazil. Producers are cautiously participating in the market to manage their cash flow. Meanwhile, the conilon type coffee on the London Stock Exchange is experiencing mixed variations.

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

Original content

After opening the day with devaluation, the Arabica coffee futures market returned to operating with rising prices on the New York Stock Exchange (ICE Future US). The market monitors weather conditions in Brazil and the irregularity of rain continues to worry the sector. The market has no new fundamentals, but volatility is maintained, as expected by sector analysts. In the field, the producer remains cautious and participates in the market as he needs to make cash. At around 1:08 pm (Brasília time), March/24 had an increase of 65 points, traded at 194.65 cents/lbp, May/24 registered an increase of 115 points, quoted at 191.40 cents/lbp, July/24 had appreciation of 110 points, worth 190.35 cents/lbp and September/24 had an increase of 85 points, quoted at 189.80 cents/lbp. On the London Stock Exchange, the ...

Source: NoticiasAgricolas