Coffee falls 1.5% in New York with expectations of dry weather

On the New York Stock Exchange, this Thursday (18), the coffee futures contract due in September fell 1.51% and closed the session at US$ 2.67 per pound. The movement was motivated by the liquidation of long positions and marked a drop after the sharp appreciation in coffee prices last week.

According to the specialized website Barchart, coffee prices also fell following the forecast of dry weather for Brazil's main coffee producing regions next week.

Cocoa
The price of the cocoa contract, also for September, closed with zero variation in the session, quoted at US$4,237 per ton. Cocoa came under pressure due to the stronger dollar and rising inventories in the US.

Sugar and Cotton
The sugar contract due in October, the most traded, closed the day with a drop of 1.67%, priced at 14.13 cents per pound. The appreciation of the dollar and the devaluation of crude oil put pressure on sugar prices this Thursday, according to Barchart.

The cotton contract for December closed the session with a slight drop of 0.15%, quoted at 79.67 cents per pound. The variation was also motivated by the appreciation of the US dollar index and the devaluation of oil.

How does the producer finance the harvest in Brazil?

Source: CNN