Coffee prices adjusted down after the announcement of the 2021 crop production survey of Conab – Brazil…
Robusta chart London 3/2022 session on 16/12/2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. Futures for delivery in January decreased by 6 USD, to 2,431 USD/ton and term for delivery in March decreased by 4 USD, to 2,299 USD/ton, slight declines. Trading volume on average. The island price structure stabilizes the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York trended down. March spot futures fell 0.45 cents to 236.85 cents/lb and May futures fell 0.50 cents to 237 cents/lb, slight losses. Trading volume on average. The island price structure widens the gap.
The price of green coffee beans in the Central Highlands provinces decreased from 0 to 100 VND, to range from 42,200 to 42,600 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 2,049 USD/ton, FOB – HCM, with a deduction of about 230 – 250 USD/ton according to the March futures price in London.
The Reais rose 0.49%, the exchange rate rose to 1 USD = 5.6800 Reais after USDX came under global downward pressure in the basket of strong currencies and the Central Bank of Brazil continued to release money to support the low liquidity of the market. usually occurs at the end of the year.
Coffee futures prices revised down following Conab Brasil’s 2021 crop production survey report.
According to the Agricultural Product Forecasting and Supply Company (Conab) under the Brazilian Ministry of Agriculture, Arabica coffee production is estimated at 31.4 million bags, up from 30.7 million bags and Conilon Robusta coffee at 16, 3 million bags, up from 16.1 million bags forecast in September. Therefore, total coffee production in 2021 will be at 47.7 million bags, instead of the 46.9 million bags announced in the last time. previous survey.
Analysts said that although Conab reported a small increase, it also proved the damage caused by the prolonged drought since the beginning of the year and especially the frosts in July. “too heavy” as many evaluations of the genders.
The market is interested in the balance, liquidation of speculative positions before the expiration of the November futures contract in London, while the inverse price structure is maintained to attract traders to take the plunge. goods to two exchanges to participate in the auction.
ANhan Van (giacaphe.com)
