USA: Favorable conditions for the Brazilian crop weigh and arabica coffee starts week with losses

Published Mar 27, 2023

Tridge summary

The Arabica coffee futures market experienced a decline in the main contracts on the New York Stock Exchange due to the positive weather conditions in Brazil, which has improved prospects for the Brazilian crop. On the other hand, the conilon type coffee saw a rise to a six-month high on the London Stock Exchange. In Brazil, the physical market ended with a devaluation in the main commercialization centers, with various types of coffee seeing different price movements.

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

Original content

The Arabica coffee futures market ended the first trading session of the week with a devaluation of the main contracts on the New York Stock Exchange (ICE Future US). According to an analysis by the international website Barchart, the coffee market continues to be under pressure from the Brazilian crop. After excessive rain at the beginning of the year, weather conditions are more favorable in the country's main production areas. "The drier conditions should allow farmers in Minas Gerais, Brazil's largest arabica producing region, to return to the coffee plantations to apply fertilizers and pesticides", says the publication. May/23 had a drop of 235 points, worth 176.90 cents/lbp, July/23 had a devaluation of 215 points, quoted at 176.15 cents/lbp, September/23 registered a drop of 195 points, worth 174.55 cents/ lbp and December/23 had a drop of 160 points, worth 172.90 cents/lbp. On the London Stock Exchange, the conilon type rose to a six-month high, registering an appreciation ...

Source: NoticiasAgricolas