Futures oscillate according to weather conditions

The international coffee prices have oscillated according to the weather conditions during the first fortnight of November. In some days, arabica futures dropped, due to the good blooming performance. In other days, however, prices moved up, supported by the risk of losses of some flowers. On November 14th, arabica contracts that expire in December closed at 124.20 cents of dollar per pound at the New York Board of Trade (ICE Futures), increasing 2.34 percent over Oct 31st.

Weather conditions are also directing robusta futures. Prices moved up last weeks due to the floods in Vietnam, which could reduce the local production and delay harvest activities in that country. On Wednesday, robusta contracts traded for January closed at 1.902 dollar per ton at the London International Financial Futures Exchange (Euronext.Liffe), kept firm over Oct 31st.

In Brazil, players are focused on how well flowers will pollinate in some areas. It is important that the weather keeps moist. The CEPEA/ESALQ Index for arabica type 6, delivered in São Paulo (capital) averaged 246.72 reals or 142.28 dollars per bag of 60 kilos, up 2.9 percent in Real over Oct 31st. For robusta type 6, in the origin Espírito Santo state, the Index remained almost unchanged, at 207.30 reals or 119.55 dollars per bag.



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