Brazil's numbers come back under pressure and arabica begins the week with devaluation

The Arabica coffee futures market ended trading this Monday (5) with a devaluation of prices on the New York Stock Exchange (ICE Future US).

In addition to monitoring weather conditions in Brazil, the market reacted to new data released about the Brazilian harvest. "Coffee prices also fell today, after Safras & Mercado increased its estimate of Brazil's coffee harvest for 2022/23 to 61.1 million bags, from a previous estimate of 58.9 million bags," he highlighted analysis of the international website Barchart.

In the field, the producer still experiences high temperatures and irregular rains, participating in the market at strategic moments and needing to save money. According to analysts interviewed by Notícias Agrícolas, volatility will be maintained in the medium term, especially due to global financial conditions that still keep the market full of doubts.

"The excessively dry conditions in Brazil are supporting Arabica coffee prices. Somar Meteorologia reported today that the Minas Gerais region of Brazil received 30.9 mm of rain in the last week, or 49% of the historical average", adds the website's analysis Barchart.

In Brazil, the day was marked by stability in the country's main commercial areas.

Source: Notícias Agrícolas