Arrival of BR coffee in London puts pressure on prices and coffee drops more than 2%

The coffee market had a day of significant devaluation in the New York and London terminals this Thursday (22). In addition to a correction in prices, the market fell with the arrival of coffees from Brazil at the London terminal and also with the numbers from Vietnam.

According to Fernando Maximiliano, the market has no new fundamentals and prices today were pressured by the arrival of new coffees from Brazil at the London terminal. The numbers have not yet been recorded by the market, as the coffees need to be evaluated.

"Coffee prices are under pressure today, after researcher StoneX projected that Brazil's coffee production in 2024/25 would increase +4.2% y/y, to 67 million bags", adds the analysis from the international website Barchart.

The easing of drought conditions in Brazil is bearish for coffee prices. On Monday, Somar Meteorologia reported that the Minas Gerais region of Brazil received 57 mm of rain in the last week, or 101% of the historical average.

On the London Stock Exchange, May/24 had a drop of US$ 64 per ton, traded for US$ 3113, July/24 had a drop of US$ 56 per ton, worth US$ 3056, September/24 had an increase of US$ 49 per ton ton, quoted at US$ 3002 and November/24 had a devaluation of US$ 37 per ton, quoted at US$ 2951.

Source: Notícias Agrícolas