The volatility of NY futures and the dollar, the latter still at a high level despite the fall on Wednesday, leads to a more cautious stance, especially among sellers. Growers sustain their sell prices, ignoring the dollar’s tumble. This more resistant attitude of sellers has forced buyers with less liquidity to seek some approach, which guarantees at least nominal price support.
Good cup from the south of Minas is indicated between BRL 730 and 735 per bag in the physicals. Fine cup is trading around BRL 760 to 770 per bag in Mogiana and Cerrado, respectively. The market sustains high prices not only in the physicals but also for deals with the future crops. The idea for Brazil’s 2021 crop is between BRL 750 and 760 for good cup and BRL 770 and 785 for fine cup. The indication for Sep/22 ranges from BRL 780 to 800, depending on description and origin. It remains very attractive to sellers.
Rio cup with 20% defects from the Matas de Minas region is pegged at BRL 520 per bag. Conillon type 7/8 from Espírito Santo ranges from BRL 440 to 445 per bag, with greater interest from the local industry.