Abundant rainfall covering the Brazilian coffee belt has put pressure on coffee futures prices to continue to decline…
Robusta chart London T11/2021 session on October 6, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to decline. The November spot term decreased by 37 USD, down to 2,111 USD/ton and the delivery term in January 2022 decreased by 31 USD to 2,109 USD/ton, very significant reductions. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. December spot futures dropped another 8.45 cents to 191.90 cents/lb and March 2022 futures fell another 8.40 cents to 184.85 cents/lb, very strong declines. Trading volume very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 500-600 VND, to range from 40,200 to 40,700 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,959 USD / ton, FOB – HCM, with a deduction of 140 – 150 USD / ton according to the January 2022 futures price in London.
The Reais fell 0.71%, the exchange rate fell to 1 USD = 5.4850 Reais due to concerns about fiscal uncertainties and prolonged tax reform, while the outside market remained intact with the real estate crisis. in China, the inflation scenario and the deadlock with the public debt ceiling in the US, the world’s first and second largest economies.
Although OPEC + decided to increase daily production, crude oil prices continued to rise hotly, creating a drag on the world economic recovery, due to concerns that the monetary base interest rate has been raised by many central banks. up. Speculative capital is flowing to crude oil because profits in this commodity are attractive.
The price of coffee on both floors continued to decline when Brazil had favorable rain, ending a series of days of lack of rain in the dry winter, causing strong speculation to liquidate positions, while farmers boosted the sale of new-season coffee. harvest because the reais rate is at a favorable level for them.
English (giacaphe.com)
