The pressure of the first announcement day (FND) has prompted funds and speculation to continue technical adjustments on both coffee futures exchanges…
At the end of the trading session, Robusta coffee prices on ICE Europe – London floor adjusted up. March delivery futures increased by 18 USD, to 3,205 USD/ton and May delivery futures also increased by 18 USD, to 3,108 USD/ton, significant increases. Trading volume is above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also tend to increase. March delivery futures increased by 2.25 cents, to 189.30 cents/lb and May delivery futures increased by 2.35 cents, to 185.15 cents/lb, the increases are also significant. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces increased by 700 – 800 VND, fluctuating in the range of 77,700 – 78,600 VND/kg.
The pressure of the first notification day (FND) in New York on February 21 and in London on February 26 has pushed funds and speculation to continue balancing their current net positions. US inflation data fell in January but was still higher than forecast, making the Fed’s interest rate cutting cycle even slower than market speculation has weakened DXY again. According to observers, the increase in the last session was mainly due to technical corrections on both futures exchanges.
Rabobank has just released a monthly report on Brazilian coffee. Despite logistics congestion at Santos port, Brazil exported a record 39 million bags in January. Notably, Conilon Robusta increased by 504%. compared to the same period last year. In addition to the shortage of global Robusta supply, terrorist attacks on shipping routes through the Red Sea also contributed to increased demand for Brazilian Conilon. Expect increased ICE-US Certified Arabica stocks and recent rains, although still below historical averages, to keep prices in check while growers increase high irrigation rates for coffee. Conilon.
Data reported by ICE – Europe yesterday, Thursday, February 15, continued to decrease by 1,440 tons, or 6.15% compared to the previous day, down to 21,990 tons (about 366,500 bags, 60 kg bags). , will continue to support the market’s upward price trend.
English (giacaphe.com)
