Funds and speculation pushed to liquidate net positions in both markets after speculation that the Fed and the US would not change the possibility of cutting interest rates in the middle of this year…
At the end of the trading session, Robusta coffee prices on ICE Europe – London exchange reversed and decreased. Futures for delivery in May decreased by 47 USD, to 3,260 USD/ton and futures for delivery in July decreased by 39 USD, to 3,159 USD/ton, quite sharp drops. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same decreasing trend. Futures for May delivery decreased by 3.25 cents, to 182.65 cents/lb and futures for July delivery decreased by 2.85 cents, to 181.25 cents/lb, the drops are also quite strong. Trading volume remains quite high above average.
The price of green coffee in the Central Highlands provinces decreased by 800 – 900 VND, fluctuating in the range of 90,400 – 91,000 VND/kg.
Coffee futures prices dropped after data reporting that ICE inventories on both exchanges had improved significantly and information that there had been heavy rain in southern Brazil. Speculation that the Fed – US will not change the possibility of cutting interest rates in the middle of this year has caused DXY to increase slightly, funds and speculators cautiously liquidated net positions in most commodity derivatives markets. The European Central Bank (ECB) said they are ready to cut Euro interest rates if inflation in the region eases somewhat when the energy crisis is no longer a problem. The Chinese government pledged to introduce measures to support the real estate sector to attract investment capital from outside.
The Reais currency decreased by 0.04%, bringing the exchange rate to 1 USD = 4.9762 R$, encouraging Brazilians to promote export coffee sales, while the new Conilon Robusta harvest is about to begin in coffee growing areas. early ripe coffee.
English (giacaphe.com)
