The reversal of previously issued financial measures in the UK has brought a good outlook to the market, but risk aversion remains high over the possibility that the Fed will tighten monetary policy at meetings. end of year policy…
Robusta chart London T11/2022 session on October 18, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London returned to a negative trend. The November spot term decreased by 7 USD, down to 2,057 USD/ton and the term for delivery in January 2023 decreased by 11 USD to 2,034 USD/ton, slight decreases. Trading volume is above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York dropped for the fifth consecutive session. December spot futures fell another 0.45 cents to 195.10 cents/lb and March 2023 futures fell another 1.05 cents to 190.30 cents/lb, slight declines. Trading volume is quite above average.
The price of green coffee beans in the Central Highlands provinces decreased by another 100-200 VND, down to the range of 44,500 – 45,100 VND/kg.
Coffee prices on both floors continued the negative trend as USDX reversed to rise again with the US industrial production report in September increased by 0.4% month-on-month, after falling 0.1% in August. US stocks extended their gains since the beginning of the week after the reversal of the UK’s financial plan provided a good outlook for the market, despite a slight drop in the British pound.
According to observers, the pressure of the new Robusta harvest in Vietnam and the new Arabica harvest in the lowlands of Colombia and Central American countries began to increase in the futures markets, while consumption demand winter is not as high as summer and certified inventories at the two exchanges continue to decline due to more attractive prices in the external market. Therefore, coffee prices are still fluctuating with a negative short-term trend.
English (giacaphe.com)
