Maintaining the sharp volatility already expected, the Arabica coffee futures market ended trading this Monday (20) with appreciation for the main contracts on the New York Stock Exchange (ICE Future US).
March/24 had an increase of 450 points, traded for 171.15 cents/lbp, May/24 had an appreciation of 385 points, quoted for 170.40 cents/lbp, July/24 had an increase of 375 points, quoted for 171.20 cents/lbp and September/24 had an appreciation of 375 points, quoted at 172.20 cents/lbp.
“Arabica coffee rose sharply on Monday after the rain forecast for the weekend in Brazil did not materialize. Below-normal rainfall in Brazil could reduce coffee productivity and support prices”, highlighted the analysis again from the international website Barchart.
The most recent forecasts, however, continue to record rain forecast for the next few days. Temperatures remain high and concerns about next year’s harvest remain.
On the London Stock Exchange, the conilon type closed with devaluation, monitoring the start of the Vietnam harvest. January/24 had a drop of US$ 16 per ton, traded for US$ 2505, March/24 had a drop of US$ 12 per ton, quoted for US$ 2437, May/24 had a drop of US$ 12, traded for US$ 2414 and July/24 had a drop of US$ 15 per ton, quoted at US$ 2385.
“Robusta coffee was under pressure on Monday due to signs of increasing supply from Uganda, the world’s fourth largest producer of Robusta. The Uganda Coffee Development Authority reported today that Uganda’s October coffee exports increased by 3 .4% year on year, to 470,080 bags”, adds an analysis from the Barchart website.
In Brazil, the physicist followed and also ended with appreciation in the country’s main sales areas.
Type 6 hard drink bica race had an increase of 1.01% in Guaxupé/MG, traded for R$ 899.00, Varginha/MG had an increase of 3.37%, worth R$ 920.00 and Campos Gerais/MG closed with an increase of 2.24%, worth R$ 912.00.
The peeled cherry type increased by 3.03% in Guaxupé/MG, traded for R$ 953.00, Varginha/MG increased in value by 2.12%, quoted at R$ 960.00 and Campos Gerais/MG ended with an increase of 2.10%, worth R$ 972.00.