New crop harvest moves on; market focused on temperatures

Arabica coffee from the new season (2006/07) has been trading around 102.70 to 107.30 dollars per bag of 60 kilos in Minas Gerais and São Paulo states. In Paraná, prices move around 100.00 dollars per bag. At this moment, attentions are focused on climate conditions. The colder weather in Brazil has been support future prices in New York Board of Trade (Nybot) up 100 cents of dollar per pound.

The Brazilian 2006/07 crop production is forecasted at 40.62 million of bags of 60 kilos by Conab (National Company for Food Supply). In the previous season, Brazil harvested 32 million bags.

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