The biggest concern of the Robusta coffee market at the moment is Vietnam and many strong countries implement social distancing measures because of the covid-19 epidemic, while problems of ocean shipping is still original…
Robusta chart London T11/2021 session on August 23, 2021
At the end of the first session of the week, Robusta coffee prices on ICE Europe – London continued to recover. The September spot term increased by 31 USD, to 1,893 USD/ton and the November delivery term increased by 30 USD, to 1,912 USD/ton, very significant increases. Trading volume remain above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to increase. December spot futures added 0.35 cents to 181.85 cents/lb and March 2022 futures also added 0.35 cents to 184.60 cents/lb, slight gains. Trading volume very below average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 dong, to range from 37,900 to 38,700 dong/kg.
Price of exported Robusta coffee grade 2.5% black broken, standing at 1,832 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the January 2022 futures price in London.
The reais increased slightly by 0.07%, the exchange rate rose to 1 USD = 5.3810 Reais in investors’ caution in the face of uncertainties in Brazilian politics and looking forward to the outcome of the Fed meeting in the second half of the week. this. While USDX eased slightly from inflation concerns and the global economic recovery slowed down because of the new strain of covid-19, the prices of many commodities fell.
The price of Arabica coffee in New York increased slightly with low volume due to technical correction right after the expiry date of the September futures contract, so it is not too surprising. There is also the support of the flow of derivative capital flows from gold and especially crude oil after falling for 7 consecutive sessions.
Meanwhile, the price of Robusta coffee continued to increase as investors continued to exercise options contracts. However, today’s session is expected to have unexpected fluctuations because investors have almost completed their positions, ready to enter the first delivery announcement day (FND). The biggest concern of the Robusta coffee market at the moment is that Vietnam and many other coffee producing countries increase social distancing measures, while the problems of global shipping remain intact.
Somar Metorologia forecasts that this week’s weather in the coffee regions of southern Brazil will continue to be dry, hot and without rain. This forecast will help support New York coffee prices in the short term.
English (giacaphe.com)
