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Coffee Prices Sharply Higher on Weather and Tariff Concerns in Brazil
Coffee Prices Sharply Higher on Weather and Tariff Concerns in Brazil

Yahoo

timea day ago

  • Business
  • Yahoo

Coffee Prices Sharply Higher on Weather and Tariff Concerns in Brazil

September arabica coffee (KCU25) on Monday closed up +4.15 (+1.39%), and September ICE robusta coffee (RMU25) closed up +130 (+4.03%). Coffee prices settled sharply higher Monday due to adverse weather conditions in Brazil and concerns about tariffs. On Monday, Sucden Financial Ltd said that a severe hailstorm in the Minas Gerais region may have damaged some of Brazil's coffee crops. The markets are also concerned about the threat of a 50% tariff on Brazilian goods if Brazil does not reach a trade deal with the US by Friday, which could potentially raise coffee prices sharply and disrupt supplies from Brazil, the world's largest producer of arabica coffee. More News from Barchart Does the 2025 Corn Crop Have a Pollination Problem? Weather Shocks vs. Oversupply: Are You Trading SRW Wheat's Next Big Move? Adverse Brazilian Weather and Tariff Concerns Boost Coffee Prices Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! An excessive short position by funds in robusta coffee could exacerbate any short-covering rally in robusta coffee futures. ICE Futures Europe reported last Friday that funds boosted their net-short positions in ICE robusta futures by 3,334 to 4,628 short positions in the week ended July 22, the most in two years. Brazil coffee harvest pressures are bearish for prices. Last Tuesday, arabica fell to a 2-week low, Sep robusta slid to a contract low, and nearest-futures (N25) robusta sank to a 1.25-year low. Last Friday, Safras & Mercado reported that Brazil's overall 2025/26 coffee harvest was 84% complete as of July 23, ahead of the comparable level of 81% last year and the 5-year average of 77%. The breakdown showed that 96% of the robusta harvest and 76% of the arabica harvest were complete as of July 23. In related news, Brazil's Cooxupe coffee co-op announced last Tuesday that its harvest among its members was 59% complete as of July 18. Cooxupe is Brazil's largest coffee cooperative and Brazil's largest exporter group. On the bearish side for robusta is an increase in ICE-monitored inventories. Robusta coffee inventories rose to a 1-year high of 7,029 lots Monday. Conversely, ICE-monitored arabica coffee inventories fell to a 3.25-month low of 800,326 bags Monday. Recent rain in Brazil has eased dryness concerns and is bearish for coffee prices. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 3.5 mm of rain during the week ended July 26, more than +200% of the historical average. Smaller coffee exports from Brazil are positive for prices after Cecafe reported on July 16 that Brazil's total Jun green coffee exports fell -31% y/y to 2.3 million bags, with arabica exports down -27% y/y to 1.8 million bags and robusta exports down -42% y/y to 476,334 bags. Coffee prices have retreated over the past three months on the outlook for abundant coffee supplies. On June 25, the USDA's Foreign Agricultural Service (FAS) forecasted that Brazil's 2025/26 coffee production will increase by +0.5% y/y to 65 million bags and that Vietnam's 2025/26 coffee output will rise by 6.9% y/y to a 4-year high of 31 million bags. Brazil is the world's largest producer of arabica coffee, and Vietnam is the world's largest producer of robusta coffee. Due to drought, Vietnam's coffee production in the 2023/24 crop year decreased by -20% y/y to 1.472 MMT, the smallest crop in four years. Also, Vietnam's General Statistics Office reported that 2024 Vietnam coffee exports fell by -17.1% y/y to 1.35 MMT. Additionally, the Vietnam Coffee and Cocoa Association reduced its 2024/25 Vietnam coffee production estimate to 26.5 million bags on March 12, down from a December estimate of 28 million bags. By contrast, the Vietnam National Statistics Office reported on July 7 that Vietnam's Jan-Jun 2025 coffee exports were up +4.1% y/y to 943,000 MT. The USDA's biannual report, released on June 25, was bearish for coffee prices. The USDA's Foreign Agriculture Service (FAS) projected that world coffee production in 2025/26 will increase by +2.5% y/y to a record 178.68 million bags, with a -1.7% decrease in arabica production to 97.022 million bags and a +7.9% increase in robusta production to 81.658 million bags. The USDA's FAS forecasts that 2025/26 ending stocks will climb by +4.9% to 22.819 million bags from 21.752 million bags in 2024/25. For the 2025/26 marketing year, Volcafe projects a global 2025/26 arabica coffee deficit of -8.5 million bags, wider than the -5.5 million bag deficit for 2024/25 and the fifth consecutive year of deficits. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio

🎥 Flamengo edge Atlético in tense clash, go top in Brasileirão
🎥 Flamengo edge Atlético in tense clash, go top in Brasileirão

Yahoo

time2 days ago

  • Sport
  • Yahoo

🎥 Flamengo edge Atlético in tense clash, go top in Brasileirão

It was a kind of "preview" of what is to come in the round of 16 of the Brazil Cup. And Flamengo got the better of Atlético Mineiro this Sunday (27), for the 17th round of the Brasileirão in front of 54,550 attendees. In a tense game, with a controversial move and many cards, the Rubro-Negro won 1 x 0 thanks to Léo Ortiz. And they returned to lead the Brasileirã in the 1st Half The first acute move was in favor of Galo, with Rony almost celebrating. Atlético was successful for much of the initial stage, with individual markings and long balls, managing to contain the Rubro-Negro's momentum. As the minutes passed, Flamengo was gaining more space. The controversy came after a foul by Fausto Vera on Plata. It was a penalty and turned into a foul outside the area, but without a red card. Flamengo went for the pressure before the break - and again complained about Ramon Abatti Abel. Galo, on the other hand, had a great chance on the counter-attack, but Hulk preferred to pass. Fla lethal in the air The "start" of the second half was a truncated game with little inspiration from both sides. Flamengo had more possession and volume. But continued to find difficulty against good marking. Then Luiz Araújo took a "hand" free kick and Léo Ortiz scored his fourth goal in the air this season (30'). The sequence was of unsuccessful attempts from both sides. 📊 Table and schedule 📅 With one less game, Flamengo went to 36 points. Leaving Cruzeiro (34) behind. Atlético - defeated for the third round in a row - remains with 20. It's the 13th with 15 matches played. Both will face each other again on Thursday (31) and once again at Maracanã. It will be the first leg of the round of 16 of the Brazil Cup. The return will be the following Wednesday (6) and at Arena MRV. The next commitment of the duo for BR-25 will be on Sunday (3). Rubro-Negro will visit Ceará at Castelão. While CAM will host Red Bull Bragantino. This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here. 📸 Wagner Meier - 2025 Getty Images

Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan
Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan

Yahoo

time3 days ago

  • Business
  • Yahoo

Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan

We recently compiled a list of Companhia Energética de Minas Gerais – CEMIG stands tenth on our list. Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG) is one of Brazil's largest integrated energy utilities, playing a crucial role in the country's power generation, transmission, and distribution. Recently, the company launched its most ambitious investment program to date, committing BRL 6.3 billion in 2025 toward modernizing its infrastructure and accelerating Brazil's energy transition. These efforts include upgrading to smart meters, enhancing grid resilience, and adopting advanced systems like SAP S4/HANA and ADMS to improve efficiency and service reliability. In line with global sustainability goals, Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG) is expanding into renewable energy, with its first solar plants set to launch in July 2025. These investments also support the agribusiness sector, a key part of the company's economy. As part of its operational overhaul, the business is restructuring with six new regional management units to improve local responsiveness and customer service. A vibrant skyline illuminated by the lights of the electric utility company. A key highlight of Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG)'s strategy is its push for digital transformation and smart grid integration. The deployment of digital tools and real-time management systems aims to future-proof its operations, accommodate growing renewable capacity, and provide more agile and transparent services across the energy value chain. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan
Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan

Yahoo

time4 days ago

  • Business
  • Yahoo

Companhia Energética de Minas Gerais – CEMIG (CIG)Launches $6.3B Modernization Plan

We recently compiled a list of Companhia Energética de Minas Gerais – CEMIG stands tenth on our list. Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG) is one of Brazil's largest integrated energy utilities, playing a crucial role in the country's power generation, transmission, and distribution. Recently, the company launched its most ambitious investment program to date, committing BRL 6.3 billion in 2025 toward modernizing its infrastructure and accelerating Brazil's energy transition. These efforts include upgrading to smart meters, enhancing grid resilience, and adopting advanced systems like SAP S4/HANA and ADMS to improve efficiency and service reliability. In line with global sustainability goals, Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG) is expanding into renewable energy, with its first solar plants set to launch in July 2025. These investments also support the agribusiness sector, a key part of the company's economy. As part of its operational overhaul, the business is restructuring with six new regional management units to improve local responsiveness and customer service. A vibrant skyline illuminated by the lights of the electric utility company. A key highlight of Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG)'s strategy is its push for digital transformation and smart grid integration. The deployment of digital tools and real-time management systems aims to future-proof its operations, accommodate growing renewable capacity, and provide more agile and transparent services across the energy value chain. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Trump tariffs wreaking havoc in Brazil's citrus belt
Trump tariffs wreaking havoc in Brazil's citrus belt

Yahoo

time5 days ago

  • Business
  • Yahoo

Trump tariffs wreaking havoc in Brazil's citrus belt

By Ana Mano SAO PAULO (Reuters) -U.S. President Donald Trump's plan to impose a new 50% tariff on all Brazilian products from Aug. 1 could devastate the South American nation's citrus belt, as factories scale back production and orange farmers consider leaving fruit to rot amid a sharp drop in prices. "You are not going to spend money to harvest and not have anyone to sell to," said grower Fabricio Vidal, from his farm in Formoso, in the state of Minas Gerais. The new tariffs could make it impossible for his fruit to enter the United States, which buys 42% of the orange juice exported from Brazil, a trade worth around $1.31 billion in the season ending last June. This month, orange prices in Brazil dropped to 44 reais ($8) a box, almost half of what they were a year ago, according to the widely followed Cepea index from the University of Sao Paulo, illustrating how Trump's disruptive trade policies can sow chaos even before enacted. "As the day approaches in which tariffs will come into effect, anxiety increases about what might happen," Ibiapaba Netto, the head of orange juice exporter lobby CitrusBR, told Reuters in an interview. IMPACT ON CONSUMERS U.S. orange juice production dropped to its lowest level in half a century in the 2024/25 harvest, with output estimated at 108.3 million gallons, according to data from the United States Department of Agriculture cited by Cepea, which shows imports will represent 90% of U.S. supplies through September. U.S. consumers will bear the brunt along with Brazilian farmers. An astounding half of the orange juice Americans drink comes from Brazil under household brands such as Tropicana, Minute Maid and Simply Orange. Brazil, which produces 80% of the world's orange juice, will be hard to replace, too. The U.S. has become more dependent on orange juice imports in recent years due to the "citrus greening" crop disease, hurricanes and spells of freezing temperatures. But the new tariff on Brazilian imports represents a 533% increase over the $415 per ton duty levied on the country's juice now. Last Friday, Johanna Foods, a New Jersey-based producer and distributor of fruit juices, challenged in court the proposed tariffs on Brazilian orange juice, claiming they would cause "significant and direct financial harm" to the company and U.S. consumers. The tariffs may also spell trouble for Coca Cola and Pepsi, which account for some 60% of the orange juice sold in the United States, Netto said. Neither company replied to requests for comment. NO EASY ANSWER Brazil won't find it easy to replace American consumers, some of the most avid orange juice drinkers in the world. Typically, higher-income countries import orange juice, limiting Brazil's potential reach into new markets. Brazilian orange juice is only sold to some 40 nations – representing about a third of the destinations that buy Brazilian meat, for example, according to trade data. CitrusBR's Netto noted that hefty duties in markets such as India and South Korea, as well as low household income in China, have hampered trade with Brazil. The European Union, in turn, already buys some 52% of Brazil's total exports, making it unlikely that countries there will make up for lost business with the U.S. Companies will be left with few options. One would be to export Brazilian orange juice through Costa Rica, which some companies already do to avoid the current duties, said Arlindo de Salvo, an independent orange consultant. But it is unclear whether exporters will be able to pull it off once the new levy starts being enforced. As companies struggle to find new paths to consumers, farmers in Formoso fear the worst. Prices have already dropped to about a third of what growers were paid at this time last year, farmers said, making the cost of picking oranges hardly worth the trouble. Grower Ederson Kogler said that the only solution would be to find other markets. But, he added, "these are things that don't happen overnight."

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