The inventory report supported the decline in coffee futures prices in the last session of the week in an unusual way…
At the end of the last trading session of the week, the price of Robusta coffee on the ICE Europe – London exchange reversed to decline. Futures for delivery in January decreased by 13 USD, to 1,933 USD/ton and term for delivery in March decreased by 12 USD to 1,866 USD/ton, significant reductions. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. The March spot futures fell 7.35 cents to 164.40 cents/lb and the May delivery futures fell 7.05 cents to 164.60 cents/lb, very sharp declines. Trading volume remained above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200 dong, to range from 41,000 to 41,500 dong/kg.
The coffee futures markets continued to move with two distinct trends, a sharp drop in New York and a relatively slight decline in London.
The inventory report of the Coffee Beans Association (GCA) showed that stocks in North America remained ample as they increased by 1.1% month-on-month to 6.39 million bags as of the end of the month. end of November and ICE-managed Arabica inventories rose to a five-month high after falling to a 23-year low.
Meanwhile, ICE’s Robusta inventories in London continued to fall to a five-and-a-half year low that pushed the spot futures price up to $67/ton difference from the nearest futures, which is a rare occurrence on the price list. electronic. This proves that the current strong demand for spot Robusta has supported the London floor futures price to fluctuate in its own way without interacting with the New York floor Arabica as usual.
English (giacaphe.com)
