DXY’s sharp increase has plunged most commodity markets in general into the red zone, the two coffee futures markets are no exception…
At the end of the weekend trading session, Robusta coffee prices on the ICE Europe – London exchange reversed and decreased. Futures for delivery in May decreased by 27 USD, to 3,358 USD/ton and futures for delivery in July decreased by 24 USD, to 3,264 USD/ton, very significant decreases. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same decreasing trend. Futures for delivery in May decreased by 0.85 cents, to 184.85 cents/lb and futures for delivery in July decreased by 0.65 cents, to 184 cents/lb, slight decreases. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces decreased by 400 – 500 VND, fluctuating in the range of 94,200 – 94,800 VND/kg.
DXY continued its upward momentum that pushed most commodity markets in general into the red zone. Both coffee futures markets are no exception, although the previous session was strongly bought by funds and speculation to regain the green color near the end of the session.
Coffee futures prices adjusted downward in the weekend session due to investors’ expectations of increased coffee supply when Brazil begins harvesting the Conilon Robusta crop in the early ripening coffee areas of Espirito Santos state and begins the harvest. new in Indonesia. The end of El Nino and the emergence of La Nina raises expectations for increased Asian coffee production in the 2024/2025 crop year. In addition, data reporting sharp increases in ICE inventories also contributed significantly.
The Reais currency decreased by 0.37%, pulling the exchange rate down to 1 USD = 4.9980 R$, also encouraging Brazilians to increase export coffee sales.
English (giacaphe.com)
