Upbeat US economic data and a strong increase in USDX caused speculative capital inflows into the stock market, causing the supply of derivatives exchanges to plunge…
Robusta chart London September 2021 session on August 6, 2021
At the end of the last trading session of the week, the price of Robusta coffee on ICE Europe – London continued to decline. The September spot futures dropped another $21 to $1,743 a tonne and the November delivery term dropped another $28 to $1,754 a tonne, very significant reductions. Trading volume quite above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York returned to a downtrend. September spot futures fell 0.9 cents to 176 cents/lb and December futures fell 0.85 cents to 179.05 cents/lb, slight losses. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200-300 dong, to range from 35,600 to 36,400 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,714 USD/ton, FOB – HCM, with a deduction of 40 – 50 USD/ton according to the November futures price in London.
The Reais fell 0.36%, the exchange rate fell to 1 USD = 5,2360 Reais following the decline after Copom Brasil raised the basic interest rate of the Reais. At the same time, USDX recovered strongly when the US economic data, especially the jobs report exceeded expectations, helped US stocks have a record session and attracted speculative capital flows that made the commodity exchanges High-liquidity derivatives such as gold, crude oil, and coffee fell together.
Coffee prices returned to the negative trend as a weakening Reais supported Brazilians to sell strongly, despite concerns not only that this year’s crop production would drop sharply but also the prospect of next year’s crop being frosted. caused damage that cannot be quantified.
In addition, Honduras’ July exports reported an increase of more than 122.80% year-on-year, resulting in coffee exports in the first 10 months of the current crop year 2020/2021 totaling 5.28 million bags. , which increased by more than 2% over the same period last year, also helped the market reduce supply concerns. Of note, Honduras’ high-quality wet-processed Arabica typically accounts for the largest volume in New York’s “C” certified inventory.
Follow barchat.com, The price of coffee on both floors dropped because the weather forecast from Brazil showed that there will be light rain in the next 6 – 10 days, helping to support coffee trees to recover after harvest to have a new crop.
English (giacaphe.com)
