With rain in Brazil, Arabica coffee price opens down in New York
RIO DE JANEIRO, BRAZIL – The December/21 crop fell by 180 points, at 201.60 cents/lbp, March/22 fell 190 points, at 204.35 cents/lbp, May/22 fell 190 points, at 205.35 cents/lbp and July/22 fell 190 points, at 205.90 cents/lbp.
According to the international website’s analysis, coffee prices posted moderate losses on Monday due to indications of heavy rains in Brazil, which improves soil moisture levels and eases concerns over the coffee crop.
“Somar Meteorology reported Monday that Minas Gerais, a region accounting for some 30% of Brazil’s Arabica coffee crop, registered 65 mm of rain or 215% of last week’s historical average,” the publication highlighted.
Despite the return of rain in recent days, producers need the volumes to be evenly distributed and constant henceforth. The availability of water in the soil in Minas Gerais was at critical levels between 0% and 30%, far below the minimum level of 60% for the development of the crop.
In the London Stock Exchange, Conilon coffee experienced a day of technical devaluation. November/21 fell US$7 per ton, trading at US$2103, January/22 fell US$6 per ton, trading at US$215, March/22 fell US$14 per ton, trading at US$2070 and May/22 fell US$17 per ton, trading at US$2040.
In Brazil, the domestic market also maintained negotiations close to stability in the country’s main exchanges.
The type 6 grade was up by 0.41% in Guaxupé/MG, trading at R$1,235.00, Poços de Caldas/MG was up by 0.80%, quoted at R$1,255.00 and Araguarí/MG fell 0.81%, valued at R$1,230.00.
Patrocínio/MG remained stable at R$1.255,00, Varginha/MG remained at R$1.250,00, Campos Gerais/MG remained at R$1.230,00 and Franca/SP remained at R$1.250,00.
The dried cherry type was up 0.38% in Guaxupé/MG, trading at R$1.350,00, Poços de Caldas/MG was up 0.72%, trading at R$1.395,00, Patrocínio/MG maintained stability at R$1.300,00, Varginha/MG at R$1.300,00 and Campos Gerais/MG at R$1.290,00.
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