The report of a drought in the main coffee growing regions of southeastern Brazil has caused the futures market to raise concerns about the supply of the upcoming crop…
Robusta chart London T11/2022 session on August 22, 2022
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London continued to increase. The September spot futures increased by $11, to $2,237 per ton, and the November delivery term increased by $17, to $2,243 per ton, slight increases. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. September spot futures added 8.35 cents to 224.30 cents/lb and December futures added 7.85 cents to 221.20 cents/lb, very strong gains. Trading volume very above average.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 dong, up to range from 48,000 to 48,500 dong/kg.
USDX surged, US stocks had another bad day, as global financial markets watched the Jackson Hole Conference, while “Europe with growth and inflation concerns, as gas prices are at their highest”. The reais fell slightly by 0.07% to $1 = R$5,1640 but the report of a dry spell in the main coffee regions southeast of Brazil spurred coffee futures prices up on both exchanges.
The La Nina weather phenomenon is expected to last until the end of the year, continuing to cause heavy rains across the Pacific coffee belt and dry conditions for southeastern Brazil and the West African coffee region.
English (giacaphe.com)
