Although coffee futures prices returned to an uptrend, the market’s attention was focused on the Fed’s year-end policy meeting today…
Robusta chart London 3/2022 session on December 14, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for delivery in January increased by 31 USD, to 2,406 USD/ton and term for delivery in March increased by 10 USD, to 2,297 USD/ton, significant increases. Trading volume on average. The island price structure continues to widen the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued the upward trend. March spot futures added 0.45 cents to 237.15 cents/lb and May futures added 0.60 cents to 237.10 cents/lb, slight gains. Trading volume below average. The island price structure closes the gap.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 42,200 to 42,700 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 2,047 USD/ton, FOB – HCM, with a deduction of about 230 – 250 USD/ton according to the March futures price in London.
The reais fell by 0.35%, the exchange rate fell to 1 USD = 5.6940 Reais due to the impact of the external market. The mood is waiting for the decision to speed up the pace of economic stimulus cuts by the Fed at session today and raise the basic interest rate USD in the next session, with very high odds. This will put pressure on emerging currencies that are already weakening and commodities will continue to get more expensive.
World coffee futures prices return to an uptrend on the back of more Fedecafe – Colombia reports that this year’s output may fall because of too much rain and farmers are reluctant to deliver for contracts sold at low prices, in when they expect the price to increase further, they have not signed a new sale contract.
The General Department of Vietnam Customs has just released November data showing that coffee exports in the month reached 107,473 tons (about 1.79 million bags), an increase of 8.29% compared to the previous month, bringing coffee exports to 11 months. the beginning of 2021 decreased by 2.32% compared to the same period last year. In the context that the market continues to show supply concerns due to the report that Robusta coffee inventories at the London floor fell further and there are still logistics problems, besides the negative impacts of the unexpected Omicron variant. can end.
English (giacaphe.com)
