Speculation in the coffee derivatives markets continued to balance, adjusting positions before the September futures option expiration date…
Robusta chart London T11/2021 session on August 17, 2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange reversed to decline. The September spot futures fell by $9 to $1,839 per ton and the November delivery term fell by $8 to $1,845 per ton, slightly lower levels. Trading volume on average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also reversed down. September spot futures fell 4.25 cents to 178.95 cents/lb and December futures also fell 4.25 cents to 182 cents/lb, sharp declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 37,000 to 37,800 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,765 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the November futures price in London.
The reais increased slightly by 0.26%, the exchange rate rose to 1 USD = 5.2670 Reais due to strong fluctuations from the outside market. Notably, the report of weaker Chinese economic data, the US economic growth was not as expected, the new variant of covid-19 epidemic broke out everywhere, causing the recovery of the world economy to be seriously affected. weight pulled USDX back down. The Fed chairman also revealed the possibility of cutting economic stimulus soon and worried that the prolonged epidemic would make the world’s leading economy unable to return to the way it was before.
Coffee prices on both floors fell again following the decline of most agricultural commodity markets in general when the reais and emerging currencies weakened again. Meanwhile, the report of inventories in major consuming markets still maintained an upward momentum, due to abundant supply or slow consumption, causing the coffee to be stagnant (?).
The focus of the world coffee market is still the current weather forecast in the coffee belt in southern Brazil, while weather news agency Somar forecasts only minor scattered rain by the end of the week. . However, it should also be noted that the winter weather in Brazil is often dry, suitable for coffee plants to differentiate flower buds.
English (giacaphe.com)
