Coffee Report - November 2nd

Rain pressure returns to the radar and coffee ends with a 4.48% devaluation

The Arabica coffee futures market ended trading this Wednesday (1) with a significant devaluation on the New York Stock Exchange (ICE Future US). The rains in Brazil are back on the radar, putting a brake on the market, which ended the day with a 4.48% drop.

"Maxar Technologies said on Wednesday that Brazil's coffee-growing areas will receive moderate rainfall next week, increasing soil moisture," highlighted the analysis from the international website Barchart.

"Maxar Technologies said on Wednesday that Brazil's coffee-growing areas will receive moderate rainfall next week, increasing soil moisture," highlighted the analysis from the international website Barchart.

Forecasts from the National Institute of Meteorology (Inmet) also indicate the rain condition in coffee areas in the coming days, with emphasis on the largest producing state, Minas Gerais, which is expected to receive the most significant volumes of rain.

"Arabica coffee stocks monitored by ICE fell on Wednesday to a 24-year low of 380,033 bags. Meanwhile, Robusta coffee stocks monitored by ICE were today at 3,912 lots, just above the record low of 3,374 lots registered on August 31", adds international analysis Barchart.

Source: Noticias Agrícolas