The pressure to expire December options has pushed the bull market…
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London returned to an uptrend. Futures for delivery in January increased by 19 USD, to 1,903 USD/ton and term for delivery in March increased by 20 USD, to 1,884 USD/ton, very significant increases. Trading volume is above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. The March spot futures rose 8.90 cents to 167.05 cents/lb and the May delivery futures rose 8.45 cents to 167.40 cents/lb, very strong gains. Trading volume is very above average.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 VND, up to range from 41,300 to 41,800 VND/kg.
President Luiz Inácio Lula da Silva was certified as elected by the Supreme Electoral Court (TSE) of Brazil in a ceremony yesterday (December 12), despite protests against the losers. The signals given by the new government have caused significant fluctuations in the giant economy in South America.
Meanwhile, the market is still concerned about risks before the possibility that US and European inflation will drive interest rates higher at upcoming monetary management sessions. Whether the Chinese market reopens can support purchasing power and emerging currencies regain value. The two coffee derivatives exchanges reversed to increase due to the expiration of the December futures contract this week. US stocks bounced strongly in anticipation of the November Consumer Price Index (CPI) report to track the next steps of the Federal Reserve (commonly referred to as the Fed).
See more: Global coffee consumption will increase 1-2%/year by 2030
English (giacaphe.com)
