Arabica begins this Friday's session with devaluation on the New York Stock Exchange, but ends the day with an increase

In this Friday's session (22), Arabica coffee futures contracts began the session with devaluations on the New York Stock Exchange (ICE Futures US), with only the December contract operating at an increase while the others registered drops between 380 and 370 points.

At around 9:07 am (Brasília time), the December/23 contract had increased by 775 points and was priced at 209.55 cents/lbp. In the case of March/24, it operated with a devaluation of 380 points and was quoted at 189.80 cents/lbp and May/24 operated with a loss of 370 points and is being traded at 187.40 cents/lbp.

According to the Carvalhaes Office, the market follows the weather conditions in Brazil, in which the rains spread and intensify over the center-south of Brazil over the next few days.

“Starting this Wednesday, a new area of ​​low atmospheric pressure and a cold front will form near the south of Brazil and in the second half of the week the cold front will advance along the coast of Brazil, further reinforcing the instabilities and between Thursday On Friday and Saturday, more widespread and voluminous rains are expected between Alta Mogiana Paulista, the south and the Mata Mineira area and even over the southernmost areas of Espírito Santo”, highlighted the Carvalhaes Office in a note.

Also according to information from the Carvalhaes Office, stocks of ICE certified coffee remained stable in the previous session, at 234,699 bags. A year ago there were 668,581 bags, when they were already considered critically low. 433,882 bags fell during this period.

Source: Notícias Agrícolas