Conilon reaches new high, reaches historic record and arabica follows

The coffee market had another day of significant appreciation in the London and New York terminals this Thursday (21). Once again the increases were driven by concerns about the supply of Robusta and London rose 3.28%, reaching the highest price in history.

The latest USDA figures show a drop of at least 3.8 million bags in Vietnam (compared to the previously released estimate) and the crop being harvested is expected to be around 27.5 million bags. In Indonesia, production is expected to be 9.7 million bags, which represents a drop of 2.15 million bags for the current cycle.

What draws attention at the moment is precisely the appreciation with Vietnam's harvest in full swing. Going by fundamentals, the market should be operating under pressure right now. Furthermore, weather conditions in Brazil continue to be on operators' radar. Meteorological models predict rain for coffee areas in Brazil in the coming days, which could put pressure on prices.

In Brazil, the physical market followed and ended with appreciation in some of the country's main sales areas.

Source: Notícias Agrícolas