Physical prices in the Brazilian market remain far from recent highs and with difficulty sustaining a stronger correction. Good cup from the south of Minas is indicated between BRL 1,240 and 1,270 a bag. Fine coffee, in both Cerrado de Minas Gerais and Mogiana Paulista, ranges from BRL 1,270 to 1,300 a bag. The idea for the new crop is very close to the physical prices, which does not stimulate sellers. Good cup for Sep/22 is pegged at BRL 1,250 to 1,270 a bag, and for Sep/23 at BRL 1,260 to 1,290 (+ BRL 10 a bag). Despite the attractive price, the small difference between the available and future coffee continues to inhibit the interest of growers.
Rio cup with 20% of defects from Matas de Minas is indicated at BRL 1,090 to 1,120 a bag, quite far from the BRL 1,400 a bag reached in February. Conillon 7/8 in the Colatina region of Espírito Santo rose to BRL 790 to 800 in the physicals. The short supply prompts some support, although the industry remains on the defensive while expecting the arrival of new coffee in the market.