Rains in Brazil put pressure on NY and physics, while London advances with Asia on the radar

The Arabica coffee futures market ended trading this Wednesday (24) with technical devaluation for the main contracts on the New York Stock Exchange (ICE Future US).

The weather forecast indicates good rain for the Arabica areas in the coming days and the market is operating under pressure. According to data from the National Institute of Meteorology (Inmet), the action of the South Atlantic Convergence Zone (ZCAS) favors the formation of heavy clouds in Minas Gerais and the state may have accumulated over 50mm in the coming days.

In the opposite direction, the London Stock Exchange closed with appreciation. March/24 had an increase of US$ 25 per ton, traded for US$ 3207, May/24 had an increase of US$ 32 per ton, quoted for US$ 3049, July/24 increased US$ 33 per ton, traded for US$ 2937 and September/24 had an increase of US$ 26 per ton, quoted at US$ 2856.

"Constrained supply supports Robusta coffee prices, with ICE-monitored Robusta coffee stocks near historic lows and Vietnam's coffee producers restricting coffee supply in anticipation of even higher prices," the site's analysis states. International Barchart.

In Brazil, the physical market followed and saw devaluation in some of the country's main sales areas. 

Source: Notícias Agrícolas