霜冻致减产叠加对冲清淡，咖啡价格维持近两月高位

Core Viewpoint - Arabica coffee prices remain near two-month highs as traders assess frost-related damage, while limited hedging by roasters drives hedge funds to increase long positions [1] Group 1: Price Movements - The most active contract rose by 0.8% at one point but later retraced gains, with futures prices accumulating a rise of approximately 6% due to frost affecting coffee-producing regions last week [1] - Roasters' hedging activities are at historically low levels, which typically increase from August to October, further fueling bullish market sentiment [1] Group 2: Weather Impact - Meteorologist Dayana Figueiredo from Climatempo indicates that while weather conditions have improved this week, rising temperatures in the coming days may affect the quality of next season's coffee beans [1] - The current weather may positively impact crop management and harvest completion but increases the risk of fires, necessitating caution among producers to minimize environmental damage and crop loss [1] Group 3: Market Sentiment - Quantitative trader Ilya Bizov from commodity trader Sucafina reports that roasters may need to purchase December futures contracts in the next eight weeks, providing speculators with more reasons to continue pushing coffee futures prices higher [1]