Climate in Brazil is once again a concern and arabica rises more than 2% in New York

The Arabica coffee futures market ended trading this Tuesday (30) with a significant increase in prices on the New York Stock Exchange (ICE Future US). Maintaining the expected volatility, the market closed with a 2.51% increase.

Arabica is once again supported by concerns about the climate in Brazil. Below-average rainfall and high temperatures are back on the radar and supporting prices. Doubt regarding the Brazilian harvest has been supporting prices, just as global financial instability justifies the intense variations.

"Somar Meteorologia reported on Monday that the Minas Gerais region in Brazil received 25 mm of rain last week, or 53% of the historical average", adds the analysis from the international website Barchart.

In London, the conilon type also advanced, still supported by restricted supply from Asia. March/24 had an increase of US$ 61 per ton, traded for US$ 3336, July/24 had an increase of US$ 53 per ton, quoted for US$ 3053, September/24 increased US$ 46 per ton, traded for US$ 2949 and November/24 had an increase of US$ 39 per ton, traded for US$ 2882.

Robusta coffee stocks monitored by ICE fell on Tuesday to a record low of 2,996 lots. Arabica coffee stocks monitored by ICE fell to a 24-year low of 224,066 bags on November 30 and were modestly above that at 250,569 bags on Tuesday.

In Brazil, the physicist followed New York and ended with appreciation in some of the country's main sales areas.

Source: Notícias Agrícolas