Frost makes up beans; coffee''s advance

Soybean prices, which are already at the highest level in history in the country, have risen even more yesterday reflecting news of frosts in the States of Paraná, São Paulo and Mato Grosso do Sul. In the zone cerealista of Brás, in São Paulo, the carioca bean bag in quality between 9 and 9.5 was listed between 550 and 570 R$ R$. The type 8 was quoted between 510 and 540 R$ R$ a sack.
"We''re doing a thorough survey to find out what the actual size of this damage, but we know that in the South of São Paulo to frost practically ended all crops of beans," said analyst Julian Seabra, the Intelligence Center of the beans.
According to him, there are reports of shortages of beans in several cities of the country and, in June, this scenario is not going to change. "With only offering 2.1 1000 sacks, the market (in Brás) suffered new positive oscillations between $ 10 and $ 20, and the trend is for new oscillations along the week."
With fears the effects of intense cold in 2016/17-crop being harvested-also influenced the future market of coffee in New York yesterday, which closed with little high. Producer regions of the country were affected by low temperatures last weekend, causing concern among investors. On the American Stock Exchange, contracts maturing in September rose 45 points to $ 1.393 a pound.
In Northern Parana, where they were recorded "moderate" frosts, coffee crops had "some prejudice," according to meteorologist Angela Costa, of the Instituto Agronômico do Paraná (Iapar).
The greatest fear is with Minas Gerais, main State producer of Arabica coffee in the country. "The higher regions of Minas Gerais and more vulnerable to frosts coincide with the main producing areas of Brazil''s Arabica coffee, so the market will be attentive to predictions for the region this week," said the broker Zaner Group, in a statement.
But the Regional coffee growers Cooperative Cooxupé-in Guaxupé (MG)-reported that, in recent days, "there was no expressive frosts in your area of expertise", IE, in southern Minas Gerais, in the Cerrado Mineiro and Vale do Rio Pardo, São Paulo.
Through its consulting services, the cooperative, the largest exporter of coffee in the country, said that "frosts were recorded in some areas of lowlands, but even so, nothing much relevance to the point of affecting production provided" for the 2016/17. The estimation of the Cooxupé is that its members produce 7.5 million bags of Arabica coffee in the current cycle.