Coffee Futures Ease on Brazil Rain Forecasts
Arabica coffee futures have declined to approximately $3.70 per pound as projections for rain in Brazil have alleviated concerns about the effects of recent hot and dry weather on the upcoming crop season. Meteorologists anticipate rainfall expanding from São Paulo to Alta Mogiana and the southern regions of Minas Gerais later this week, particularly with intensified showers expected between Thursday and Friday. Some areas may experience over 30 millimeters of rain, sufficient to moisten the soil and promote coffee flowering, as reported by Climatempo. Although dryness had previously driven prices up by 3.4% last week, traders have observed that conditions remain within normal parameters and have already facilitated the main flowering. Nonetheless, timely rainfall remains crucial for crop development following the dry spell since September 23.
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