After a Monday (16) with no trading on the American exchanges due to the Presidents’ Day holiday, at the opening of the New York Stock Exchange this Tuesday (17), Arabica coffee contracts for delivery in May registered a drop of 4.07%, quoted at US$ 2.8615 per pound.
Coffee prices have been falling in the last two weeks, amid estimates of a record harvest in Brazil, which is the world’s largest producer. The National Supply Company (Conab) projects record production of 66.2 million 60-kilogram bags. Broker Eisa estimates that the new Brazilian crop, which begins harvesting in the coming months, will reach 75.8 million bags.
The rains recorded in producing regions also contributed to improving harvest prospects, reducing concerns about dry weather. As a result, coffee prices reached their lowest levels in the last six months.
Cocoa
Cocoa is also falling, and shares for March fall 3.18%, to US$3,467 per ton. The market continues to be influenced by projections of high supply in Ivory Coast and Ghana, the main global producers.
Data on a reduction in crushing, a drop in sales from large chocolate industries and an increase in certified stocks on the stock exchange also impact negotiations. In one month, the price of cocoa fell 30.25% and, in the annual comparison, it fell 65.52%, based on contracts for difference (CFDs) that follow the commodity’s reference market, points out Trading Economics.
Cotton
Cotton paper also for March fell 0.68%, quoted at 61.69 cents per pound.
Sugar
Demerara sugar started the day up 1.81%, with contracts for March quoted at 14.03 cents per pound. Sugar futures have been influenced by technical adjustments after prices reached the lowest level in the last five years on the New York Stock Exchange, according to analysis by Barchart.
However, the increase may encounter limitations given expectations of a surplus in global sugar production until the 2026/27 season.
