The intense rains that reached Brazilian coffee regions recently helped the situation in fields, which were damaged by the drought. Besides, new blooming started to appear. Even thought, the lack of rains has already damaged the next crop - it will be possible to evaluate the losses only at the beginning of 2008, which should keep pressuring coffee prices until the end of this year.
In the international market, arabica futures kept moving down, limiting trades in Brazil. The contracts that expire in December dropped 2.92 percent at the New York Board of Trade (ICE Futures) between Oct 19 and 31st, closing at 121.35 cents of dollar per pound on Wednesday, Oct 31st.
The CEPEA/ESALQ Index for arabica type 6, delivered in Sao Paulo (capital) averaged 239.75 reals or 138.10 dollars per bag of 60 kilos on Wednesday, decreasing 8 percent in Real over Sept 28th. For the robusta type 6, in the origin Espírito Santo state, the Index closed at 205.93 reals or 118.63 dollars per bag of 60 kilos, almost stable in the period (upping 0.3 percent in Real).