Arabica opens the year moving forward, but rains in Brazil could put pressure on the market

The first trading session of the year was marked by appreciation for the coffee futures market in New York terminals. The market continues to monitor weather conditions in the main producing origins and also stocks. In London, the day was marked by devaluation.

Arabica has recovered from last week's lows, but continues to monitor weather conditions in Brazil. Meteorological models indicate good conditions for rain in the coming days, but high temperatures, as well as irregular distribution, keep producers worried.

"Arabica's gains on Tuesday were limited as rain forecasts in Brazil's coffee-producing regions eased concerns about dry conditions," adds the Barchart analysis.

In London, the market reflected the Vietnam harvest and had a day of depreciation after several sessions of gains. March/24 had a drop of US$ 37 per ton, traded for US$ 2804, May/24 had a drop of US$ 25 per ton, worth US$ 2732, July/24 had a drop of US$ 29 per ton, traded for US $ 2665 and September/24 had a drop of US$ 30 per ton, worth US$ 2623.

In Brazil, the physical market had a day of adjustments in the country's main sales areas. 

Source: Notícias Agrícolas