Valuation in Coffee Markets: Prices Rise in New York and London

The week started with an increase in coffee futures in the New York and London markets. The market continues to show volatility, with prices rising by more than 1% due to weather conditions in major producing regions and the progress of harvests in Brazil. September/24 rose 290 points, closing at 227.30 cents/lb, December/24 increased 285 points to 226.05 cents/lb, March/25 gained 280 points to 224.75 cents/lb, and May/25 rose 265 points to 223.10 cents/lb.

In London, robusta also advanced. September/24 increased by $48 per ton, closing at $4057, November/24 rose $48 per ton to $3915, January/25 gained $54 per ton to $3767, and March/25 increased by $61 per ton to $3678. According to Barchart, coffee continues to be supported by weather conditions in Brazil, although dry weather is positive for the harvest. "Somar Meteorologia reported on Monday that the region of Minas Gerais in Brazil had not received rain for the second consecutive week," the publication stated.

According to Safras & Mercado, by June 11, 37% of the harvest had been completed, surpassing last year's percentage (33%) and the five-year average for the same period (34%). However, Safras noted that sales have been slower despite good prices. As of June 11, only 22% of the potential 2024/25 Brazilian crop had been sold by producers, compared to 26% of the previous crop at this time and below the five-year average of 32%.

Source: Notícias Agrícolas