Funds and speculation continue to buy and liquidate due to the pressure of the first notification day (FND) approaching…
At the end of the weekend trading session, Robusta coffee prices on ICE Europe – London continued to recover. The March delivery term increased by 26 USD, to 3,231 USD/ton and the May delivery term increased by 33 USD, to 3,141 USD/ton, very significant increases. Trading volume is quite above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also tend to recover. March delivery futures increased by 1.55 cents, to 190.85 cents/lb and May delivery futures also increased by 1.55 cents, to 186.70 cents/lb, significant increases. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces increased by 1,200 – 1,500 VND, fluctuating in the range of 79,300 – 80,100 VND/kg, thanks to the increased price difference plus (Dif.).
The pressure of the first announcement day (FND) has prompted funds and speculation to continue buying and liquidating to balance the net position currently held. DXY weakened again due to low liquidity due to the Traditional New Year holiday in Asia and Carnival in Brazil, which pushed the Reais exchange rate up 0.04% to 1USD = 4.9661 R$, while The producer price index (PPI) report increased slightly in the US, confirming the Fed’s tough stance of only cutting interest rates in the middle of this year.
During the week DXY rose 0.11% leaving most commodity exchanges flat “greenback” has become expensive. World coffee futures prices increase according to general commodity prices.
Arabica coffee prices benefited from the continued limited supply of Robusta, after the report that ICE – Europe inventories at the end of the week fell to a record low of 2,009 lots.
English (giacaphe.com)
