USA: On a day of numbers in Colombia, coffee returns to test new highs in New York

Published 2023년 3월 6일

Tridge summary

The Arabica coffee futures market on the New York Stock Exchange saw prices testing new highs on Monday, with increases in May/23, July/23, September/23, and December/23 contracts. This recovery comes after price pressure the previous week. The increase is attributed to Colombia's report of a 10% rise in arabica production in February, despite a drop in exports. However, uncertainty in the global coffee supply, especially with the Brazilian crop, continues to support high prices. In contrast, the conilon market experienced negative performance on the same day.

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

Original content

After opening the day with technical adjustments, the Arabica coffee futures market returned to test new highs for prices in the trading session this Monday (6th) on the New York Stock Exchange (ICE Future US). Around 12:34 pm (Brasília time), May/23 was up 190 points, traded at 179.75 cents/lbp, July/23 was up 170 points, quoted at 178.90 cents/lbp, September/23 was high of 175 points, traded for 177.40 cents/lbp and December/23 had an appreciation of 225 points, worth 175.90 cents/lbp. Arabica coffee tests a recovery after pressure in the previous week. Prices advance after Colombia reports a 10% increase in arabica production last month, but also reports a drop in exports over the same period. + Colombia reports 10% increase in arabica production in February; exports have a drop Uncertainty regarding the global coffee supply continues to support prices. The biggest doubt in the market is in relation to the Brazilian crop, since crop estimates show a big difference from ...

Source: NoticiasAgricolas