June 20 2019
The rainfall reports from Brazil see most of the main coffee districts in the South East of the country and with the exception of the southern state of Parana and the north of the state of Espirito Santo have had a dry week and with the forecast for these conditions to continue for the coming week, to see the new crop harvest in full swing.
So far, the estimate is that already approximately 18 million bags of the arabica coffees have been harvested and along with 11 million bags of the conilon robusta coffees, which with significant quantities of carry over arabica coffee stocks from last years crop, assists to support a steady supply of Brazil coffees to the consumer markets.
Today is the Corpus Christi holiday for Brazil and with many taking tomorrow as a bridging holiday, to make for an extended long weekend, which shall take Brazil hedge selling activity away from the markets. A factor that might assist towards a degree of market buoyancy.
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