While New York shed a lot of its gains in the first session of the week alone, London still has concerns about supply shortages from the top Robusta producer…
Robusta chart London T11/2021 session on August 31, 2021
Ending the session, the price of Robusta coffee on ICE Europe – London increased for the seventh consecutive session. The November spot term increased by 8 USD, to 2,026 USD/ton and the term for delivery in January 2022 increased by 11 USD to 1,994 USD/ton, significant increases. Trading volume on average. The island price structure closes the gap.
In contrast, the price of Arabica coffee on the ICE US floor – New York dropped sharply right after the first session of the week increased strongly. December spot futures fell 4 cents to 195.90 cents/lb and March 2022 futures fell 3.90 cents to 198.50 cents/lb, significant declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 39,300 to 40,200 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,894 USD/ton, FOB – HCM, with a deduction of 90-100 USD/ton according to the January 2022 futures price in London.
The reais rose 0.32% to $1 = 5,1720 reais, amid the dollar’s weakness against emerging currencies following the departure of US troops from Afghanistan and the prospect of the Fed cutting stimulus economy at the end of the year.
Arabica coffee prices increased strongly at the beginning of the week due to the forecast that Brazil’s weather would continue to be dry. However, prices turned down significantly yesterday when the weather report that the coffee belt in the south of Brazil had some rains to relieve the stress, helping to ease the stress for the coffee trees to differentiate into the new crop. . But those are just scattered rains on a narrow range, while the heat forecast in September is still higher than the multi-year average.
The price of Robusta coffee continued to increase due to concerns about supply from Vietnam. Markets expect the stagnation to improve by mid-September, when the government eases social distancing measures, combined with current London futures prices to attract higher shipments. .
English (giacaphe.com)
