New York coffee price dropped as speculation continued to liquidate overbought positions and take short-term profits, in the mood to wait for the frost this weekend…
Robusta chart London September 2021 session on July 28, 2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange increased. Futures for September delivery increased by 3 USD to 1,930 USD/ton and for November delivery also increased by 3 USD, to 1,943 USD/ton, slight increases. Trading volume below average.
In contrast, the price of Arabica coffee on the ICE US floor – New York continued to decline. September spot futures fell another 1.30 cents to 200.45 cents/lb and December futures fell another 1.25 cents to 213.35 cents/lb, significant losses. Trading volume maintained very well above average..
The price of green coffee beans in the Central Highlands provinces increased from 0 to 100 VND, to range from 37,400 to 38,100 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,843 USD/ton, FOB – HCM, with a deduction of 90-100 USD/ton according to the November futures price in London.
The reais increased sharply by 1.25%, the exchange rate rose to 1 USD = 5,1100 Reais due to concerns that Copom Brasil would raise the basic interest rate in the Reais next week, as soon as the Fed announced that it has not considered the issue of interest rates. current USD because the epidemic increased, causing US stocks to adjust cautiously.
Arabica coffee prices fell as speculation in New York continued to liquidate, take short-term profits, and Robusta coffee prices adjusted higher as the report of inventories certified by the London floor decreased further in the context of remaining supply. stagnation, the industry does not want to receive goods at this time due to the high sea freight rates.
There will be a cold snap over the weekend in the Arabica growing regions of southern Brazil. Although the temperature forecast this time is not as low as the previous one, it still does not rule out the possibility of further damage to coffee trees.
Initial reports said that in Espírito Santo, the state that accounts for 70% of Brazil’s Conilon Robusta coffee production, there was no damage from last week’s frost because the coffee trees are grown mainly in the lowlands and have completed the crop. harvest, while the Arabica harvest is at its peak, it is expected to be completed in a few weeks.
English (giacaphe.com)
