Coffee starts the week with pressure, keeping an eye on shipments and weather in Brazil

The week started with lows for the Arabica coffee futures market. Following the weather conditions in Brazil, the market had another day of devaluation and closed below 190 cents/lbp once again.

Meteorological models continue to indicate rain in Brazil, but the irregularity of precipitation still causes great concern for producers. Furthermore, analysis by the international website Barchart highlighted the increase in Brazil's exports, up 33% in the last period, according to data from Secex. Cecafé's official numbers will be released next week.

"Low coffee stocks support prices. Arabica coffee stocks monitored by ICE fell to a 24-year low of 224,066 bags on November 30, and were slightly above that level on Monday at 252,646 bags. Robusta coffee stocks monitored by ICE last Friday were at 3,440 lots, slightly above the record low of 3,374 lots recorded on August 31", adds the analysis.

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

Source: Notícias Agrícolas