Increases in coffee prices in NY and London, supported by the exchange rate and stocks

Prices in the coffee market ended this Wednesday (27th) registering advances on both the London Stock Exchange and the New York Stock Exchange.

At around 3:49 pm (Brasília time), the March/24 contract was operating with an increase of 340 points and quoted at 197.75 cents/lbp, the May/24 contract was operating with an advance of 340 points and is being traded at 195.35 cents /lbp, July/24 rose 340 points, worth 195.40 cents/lbp, September/24 advanced 335 points, reaching 196.00 cents/lbp, and December/24 rose 325 points, worth 196, 80 cents/lbp.

On the London Stock Exchange, January/24 contracted with a drop of US$6 per ton, trading for US$3,069. March/24 had an increase of US$ 32 per ton, worth US$ 2,869 and May/24 had an increase of US$ 46 per ton, worth US$ 2,812.

According to information from the international news agency Reuters, traders report that the harvest in Vietnam, the largest producer of Robusta, was well advanced, but farmers remain reluctant to sell their grains, expecting prices to rise further.

Furthermore, traders point out that the recent appreciation of the Real helped to slow producers' sales in the world's largest arabica producer, reducing dollar-denominated prices in local currency terms.

Source: Notícias Agrícolas