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Future quotations of the Arabica coffee on the New York Stock Exchange (ICE Futures US) ended the session on Wednesday (26) with a maximum of more than 400 points. The foreign market adjusted its session against the decline last Friday (21), but also benefited from oil support during the day.
March 19, market benchmark, closed today's session at 415 points, quoted at 103.85 cents / lb. At the end of last week, the contract had been closed below the dollar threshold per pound, but the record was reached on Wednesday.
We started to observe technical changes in the terminal and the reference contract was over 1 USD / lb. In addition to adjustments, according to international agencies, oil has also contributed to the rise in prices of the day, after shooting more than 7%, to 45 dollars a barrel.
According to badyst João Santaella, the charts show that coffee can reach up to $ 1.13 a pound. "The timing is a high technical correction, close to 104.60 cents per pound, a 120-day moving average, and shoots up to an average of 50 days at 113.00 cents."
Last week, consulting firm Safras & Mercado renewed its optimism about the country's coffee supply, estimating record production in the country at 63.7 million 60-kg bags after verification. sector, but the market has followed its path. (19659003) "Producer reports, showing better-than-expected results, as well as coffee-filled warehouses, expected production to be higher than expected in 2018," said Gil Carlos Barabach, market badyst at Safras.
Domestic Market
The Brazilian market is still idling this week of end-of-year festivities. In addition, according to the Cepea (Center for Advanced Studies in Applied Economics, Esalq / USP), the external declines recorded in recent days have already limited business in recent days.
The peeled cherry type coffee has a higher market value than Guaxupé (MG) with withdrawals at R $ 453.00 and a peak of 5.35%. It was the biggest swing of the day.
Type 4/5 recorded the highest market value in Franca (SP) with a withdrawal of R $ 425.00 and a maximum of 1.19%. The biggest swing of the day was recorded in Poços de Caldas (MG), with a maximum of 1.24%, and withdrew to R $ 408.00.
Type 6 hard recorded a higher market value in Vitória (ES) without R $ 442.00 and stability. The strongest oscillation took place in Guaxupé (MG) with an appreciation of 3.90% and bags at R $ 426.00.
Friday (21), CEPEA / ESALQ indicator of arabica type 6, the drink lasts for the better (19659015) window.fbAsyncInit = function () {{{{{}}} {
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