IBGE Production Forecast 2018/19 Brazil

IBGE, the statistical survey agency ranked second after Conab, released the latest survey of Brazil's newly completed coffee production of only 45.9 million bags, down 3.8 compared to the previous estimate, of which 35.7 million bags of Arabica and 10.2 million bags of Robusta.

Brazil is on the big holiday week in Brazil to slow trading in the domestic market as well as export transactions.

Some estimates are also given on the new crop situation after the blossoming and Brazil's output to 2018/19 is expected to be 59.9 million bags. But some analysts say the numbers are high and it's too early to talk about Brazil's crop. Although the flower blooms well, there is an additional 6 months to evaluate the crop.

The Brazilian Reals rate does not favor sellers as foreigners still offer lower bids. The industry is looking to buy a variety of low quality Arabica coffee.