USA: Pressure from the Brazilian crop persists and arabica retreats more than 1% in NY

Published 2023년 3월 28일

Tridge summary

The Arabica coffee futures market experienced a decline in main contracts on the New York Stock Exchange, with May/23 dropping 315 points to 173.75 cents/lbp. This devaluation is attributed to favourable growing conditions and reduced concerns about flooding in Brazil's coffee plantations, as well as a lack of urgency from both producers and buyers to engage in market transactions. The conilon also saw a devaluation on the London Stock Exchange. In Brazil, the type 6 hard drink bica bola and peeled cherry type also experienced a decline in main commercial centers.

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Original content

The Arabica coffee futures market ended another day with devaluation for the main contracts in the trading session this Tuesday (28) on the New York Stock Exchange (ICE Future US). May/23 dropped 315 points, traded at 173.75 cents/lbp, July/23 dropped 315 points, traded at 173 cents/lbp, September/23 dropped 290 points, worth 171.65 cents/lbp and December/23 had a drop of 265 points, quoted at 170.25 cents/lbp. "Favourable growing conditions and reduced concerns about flooding in Brazil's coffee plantations are pessimistic for Arabica coffee prices", highlighted the analysis of the international website Barchart. Around here, the Procafé Foundation in an interview with Notícias Agrícolas confirmed that the harvest conditions are more positive when compared to the last two years. The rains at the beginning of the year were positive for the development of the crop, and although the number of fruits per rosette is lower, the volume of water should favor the yield of the crop. The ...

Source: NoticiasAgricolas