Rains in BR and ICO data justify a day of light losses in NY

The Arabica coffee futures market ended trading this Thursday (4) with adjustments to prices on the New York Stock Exchange (ICE Future US). Monitoring weather conditions in Brazil, the market is still under pressure from the forecast of rain in the coming days. Another downside is the new data recently released by the International Coffee Organization (ICO).

The ICO reported that global coffee exports increased by 4.1%. "In relation to the previous year, to 10.61 million bags of coffee from October to November. exports increased +3.1% year on year, to 20.25 million bags", adds Barchart.

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 Wednesday at 253,144 bags. Robusta coffee stocks monitored by ICE on Thursday were at 3,453 lots, slightly above the record low of 3,374 lots recorded on August 31.

In Brazil, the physical market followed the external market and had a day of price adjustments in the country's main sales areas.

Source: Notícias Agrícolas