Arabica coffee prices have decreased slightly but are on track for a weekly gain, with concerns about Brazil’s dry weather. Cocoa prices are volatile amid rising production forecasts, while sugar prices have seen small increases.
On Friday, Arabica coffee futures experienced a decline of 1.3%, landing at $3.82 per pound, although they are still projected to achieve a weekly gain of 2.4%. Attention remains focused on the upcoming crop in Brazil, the largest producer of Arabica coffee, amidst concerns over dry weather conditions that may adversely affect crop yield.
In summary, Arabica coffee prices are under pressure due to dry weather in Brazil, despite the potential for a weekly gain. Cocoa prices are fluctuating with improved production forecasts, while sugar futures rose modestly. The market remains cautious as traders adjust to changing conditions and prices.
Original Source: www.tradingview.com
