In a week of few deals, arabica ends with devaluation in NY and in the physical

The Arabica coffee futures market ended the week's trading with devaluation for the main contracts on the New York Stock Exchange (ICE Future US).

"Forecasts of rain in Brazil until next week are positive for coffee productivity and pessimistic for prices", highlighted the analysis by the international website Barchart. Here, however, producers are still apprehensive about the irregularity of rain and high temperatures. The first week of the year was marked by a slow pace of business.

"Low coffee stocks support prices. Arabica coffee stocks tracked by ICE fell to a 24-year low of 224,066 bags on November 30 and were slightly above that level on Wednesday at 253,144 bags. The stocks of Robusta coffee monitored by ICE were today at 3,440 lots, slightly above the record minimum of 3,374 lots recorded on August 31", adds the international analysis.

In Brazil, the physical market followed suit and ended with devaluation in the country's main sales areas.

Source Notícias Agrícolas