London lost everything it had gained in the previous session, while New York lost more…
London Robusta chart T5/2022 session on 10/03/2022 End of trading session, Robusta coffee price on ICE Europe – London trading floor reversed to decrease. The spot futures in May decreased by 24 USD, to 2,093 USD/ton and the term for delivery in July also decreased by 24 USD, to 2,072 USD/ton, significant reductions. Trading volume very below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York trended down. The May spot futures fell another 5.10 cents to 224.20 cents/lb and the July delivery futures fell another 4.80 cents to 223.45 cents/lb, sharp declines. Trading volume very cpond above average.
The price of green coffee beans in the Central Highlands provinces decreased by 400-500 VND, to range from 39,600 to 40,200 VND/kg.
No new agreement was announced, while the bombs were still exploding and the Russian side gave more reasons to justify the movement of troops. “aggression” Ukraine, causing investors to continue to worry that the prolonged war in Eastern Europe will negatively affect global economic growth.
The return of gold and crude oil prices has put the price of coffee derivatives at a disadvantage as speculation continues to liquidate, shifting capital flows to seek immediate profits, while USDX and raw commodities also recover the losses in the previous session.
The report on Arabica coffee inventories on the New York Stock Exchange exceeded expectations and the report that the main producing countries exported coffee increased in February also contributed negatively to both exchanges.
English (giacaphe.com)
