Without NY, the physical market had a calm day with few variations in Brazil

The week began with significant appreciation for the conilon futures market on the New York Stock Exchange (ICE Future US). Even without the New York reference, the reference contract gained almost US$50 per ton this Monday (15).

March/24 had an increase of US$ 48 per ton, traded for US$ 2987, May/24 had an appreciation of US$ 48 per ton, quoted for US$ 2862, July/24 had an increase of US$ 39 per ton, traded for US$ 2777 and September/24 registered an increase of US$ 34 per ton, quoted at US$ 2721.

The market continues to be supported by concerns about Asia. Both Vietnam and Indonesia are expected to see a drop in production in the current cycle, leaving supply tighter. Brazil has benefited from prices and advancing in the international market.

In Brazil, attention continues to focus on climate conditions. The rains are more favorable at the moment, but there is still some uncertainty regarding the 2024 harvest. The high temperatures of recent years are expected to have negative impacts on production.

Without the New York reference, the physical market had a day of stability in the country's main commercial areas.

Source: Notícias Agrícolas