Today is the closing session of the September futures contract, which promises to have many positive changes…
Robusta chart London T11/2021 session on August 19, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The September spot futures fell by $18, down to $1,843 per tonne and the November delivery term fell $14 to $1,863 per ton, very significant reductions. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. September spot futures fell 1.50 cents to 178.20 cents/lb and December futures fell 1.55 cents to 181.30 cents/lb, significant declines. Trading volume very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200-300 VND, to range from 37,200 to 38,000 VND/kg.
The price of exported Robusta coffee grade 2.5% black broken, stood at 1,783 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the November futures price in London.
The Reais fell 0.87%, the exchange rate fell to 1 USD = 5.4220 Reais due to internal political uncertainties and the government’s operation was still stagnant. While foreign capital investors were also more cautious after the Fed meeting minutes were released, which raised doubts that the economic stimulus will soon be cut because of excessive inflation and the rapidly increasing covid-19 epidemic, causing USDX to increase continuously. continue to make emerging currencies become “devaluation”. This is to the detriment of most commodities traded in greenbacks.
Coffee price reversed back before mixed fundamental information. The focus is still on the abundant supply as Brazil is harvesting a new crop and the reais is currently favorable for them to boost export sales. While there is still a concern that global coffee consumption will be reduced because of the spread of the disease.
Today is the last session for speculators to adjust their positions, expire options, switch to November futures in London and December futures in New York, promising volatility. more positive.
English (giacaphe.com)
