Porto Alegre, June 29, 2021 – The New York Commodity Exchange (Ice Futures US) for Arabica coffee ended operations this Tuesday with sharply lower prices.
After two sessions of sharp gains, NY had a movement of technical adjustment and profit taking. In addition, the reduction in fears of frost over the coffee belt in Brazil in the coming days contributed to the losses. Forecasts indicate greater chances of frosts only in Paraná and south of São Paulo, not affecting the main regions of the coffee belt in Brazil and thus likely to bring limited damage, if they occur.
According to SAFRAS & Mercado consultant Gil Barabach, coffee retreated in a typical realignment movement, after the rally of the last few days and with the slightest fears of frost. However, it indicates that the market still supports much of the climate protection and closely monitors the advance of the polar air mass. "Without harm to crops, pay attention to an eventual dismantling of climate protection, especially in view of a weaker dollar and going sideways," he commented.
Contracts for delivery in July/2021 closed the day at 159.70 cents per pound, down 2.55 cents, or 1.6%. The September/2021 position closed at 160.20 cents, down 2.50 cents, or 1.5%.
« Back to index