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Weekly Short Report Terra Forte

Dear friends,

Internal roasters seem to have renewed appetite for lower grade Arabicas as well as Conillons. Actually in spite of ICE weakness prices of both varieties have gone up comparing to last week also with the help of weak currency. However for the internal industry it doesn´t mean much.

Even not considered attractive differentials, some business are been fetched for nearby shipments.
Same old story with buyers abroad awaiting new crop offers to get widen. Exporters are cautiously looking spot prices so far away from buying ideas for new crop.
Producers on the other hand have sold some 20% of new crop, banks are pouring money for them at 6,25% per year and with internal prices on average already at or very close to cost of production, we honestly don´t see the so-called big pressure materializing. Even with a nice crop coming, the remaining stocks are much lower than initial stocks back in 2013/2014.

A more Autumn pattern at key Arabica areas with rains fading away. At Cerrado and Espirito Santo still good rains falling.

Wishing you a nice weekend

Terra Forte Trading Desk

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Weekly Short Report Terra Forte
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