Coffee Report - September 29th

Coffee has another day of pressure and drops to 147 cents/lbp in New York

The Arabica coffee futures market ended another session with devaluation for the main contracts this Thursday (28) on the New York Stock Exchange (ICE Future US).

The market continues to monitor weather conditions in Brazil, and according to analysis by the international website Barchart, the rain forecast has once again put pressure on prices. "Rain forecasts for this week and next in coffeeproducing areas in Brazil are weighing on Arabica coffee prices," he said.

Here, however, the scenario is one of considerable concern and uncertainty as recent high temperatures could cause problems in next year's harvest. For analysts, New York still does not reflect the concerns that producers have been experiencing in the field.

On the London Stock Exchange, the conilon type advanced in this session. November/23 saw an increase of US$ 22 per ton, traded for US$ 2469, January/24 registered an increase of US$ 26 per ton, worth US$ 2372, March/24 saw an increase of US$ 19 per ton, traded for US $ 2312 and May/24 had an appreciation of US$ 14 per ton, worth US$ 2282.

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

Source: Notícias Agrícolas