The price of coffee on the two futures exchanges returned to the opposite direction when more basic information supported…
Robusta chart London 7/2022 session on 09/06/2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London floor dropped for the fourth consecutive session. Futures for spot delivery in July decreased by 12 USD to 2,093 USD/ton and for September delivery decreased by 9 USD to 2,108 USD/ton, significant reductions. Trading volume above average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York returned to increasing momentum. July spot futures rose 2.80 cents to 234.65 cents/lb and September futures also increased 2.80 cents to 234.80 cents/lb, strong gains. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 41,000 to 41,600 VND/kg.
Coffee futures prices returned mixed following the report that Vietnam’s exports in May increased by 9.28% year-on-year and available inventories in the EU market in April increased by 4.35. % compared to the previous month, ensuring a safe supply for more than 13 weeks of roasting operations, dragged down the price of Robusta coffee on London floor continuously.
According to observers, the price of Robusta coffee dropped to a 2-week low yesterday, also due to speculation that accelerated liquidation and forward month-shifting due to the pressure of July futures option expiration on the London floor.
Meanwhile, the price of Arabica coffee in New York, along with support from the report that Colombian production and exports have been somewhat erratic in the past few months due to rainy weather and logistics problems, while Brazil winter has begun, the season where frost is likely to be an unforeseeable element of weather, causing speculators in the coffee derivatives markets to often jitter about with waves of cold air entering growing regions. main coffee in southeastern Brazil.
In addition, fluctuations in monetary policies, especially the pressure from central banks to raise basic interest rates to prevent global inflation and the war in Eastern Europe, have affected the world financial factors in general. in the coming days, raising risk aversion.
English (giacaphe.com)
