Coffee futures ease as rain comes to Brazil
The Centre-South (C-S) of Brazil received rains late last week, and the pattern extended through the weekend into the start of the current week, taking some of the pressure off of coffee futures. The high pressure system that was stationary over Sao Paulo has started to weaken, allowing moisture from the south and the northwest to migrate into the coffee growing regions throughout Sao Paulo, Parana and RGDS. Weather Trends has been pointing to this pattern for some time, while most others were not convinced that rains would materialize in October. According to Ron Day of Bloomberg, Weather Trends Int’l. had forecast that rains would come to the Brazil growing regions, and when they arrived, the coffee market responded with lower trading in Monday’s session.
