The two coffee derivatives exchanges are in the process of completing the September futures option contract and the first announcement date (August 23) is also nearing…
Robusta chart London T11/2021 session on August 18, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to increase. The September spot term increased by $22 to $1,861/ton and the November delivery term increased by $32 to $1,877/ton, very significant increases. Trading volume very above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. September spot futures rose 0.75 cents to 179.70 cents/lb and December futures rose 0.85 cents to 182.85 cents/lb, slight gains. Trading volume quite above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 dong, to range from 37,500 to 38,200 dong/kg.
Export price of Robusta coffee grade 2.5% black broken, stood at 1,797 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the November futures price in London.
The Reais fell sharply by 2.05%, the exchange rate fell to 1 USD = 5,3750 Reais mainly due to internal political uncertainties and the Brazilian government is focusing on the tax reform bill and amending the current Constitution. still stagnate. Meanwhile, the market’s mood was more positive after the release of the Fed meeting minutes showing that there will be no change in economic stimulus measures at this time, due to the uncertain growth of the US economy during the pandemic. Covid-19 is still spreading.
Coffee prices benefited from a strong inflow of speculative capital when the price of gold and crude oil slowed down, while prices of many other agricultural products were mixed.
However, the market should also pay attention when the two derivative coffee exchanges are in the maturity stage of the September futures option contract and the first announcement date (August 23) is also approaching.
Vietnam Customs announced that coffee exports in the first half of August reached 47,138 tons (equivalent to 785,633 bags, 60 kg bags), bringing exports in the first 7 and a half months of 2021 to a total of 1,012,876 tons (about 16.88 bags). million bags), down 7.94% over the same period last year.
The weather forecast in the Brazilian coffee belt will have a lot of rain next month, favorable for coffee trees to make a new crop, which may bring negative sentiment back to the coffee markets in the short term.
English (giacaphe.com)
