Coffee prices on the two futures floors are mixed when more basic factors support…
Robusta chart London 3/2022 session on 07/02/2022
At the end of the first session of the week, the price of Robusta coffee on the ICE Europe – London exchange increased. Futures for delivery in March increased by 4 USD, to 2,233 USD/ton and term for delivery in May increased by 5 USD, to 2,218 USD/ton, slight increases. Trading volume below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued to decline. The March spot futures fell another 0.2 cents to 241.65 cents/lb and the May futures fell another 0.15 cents to 242.30 cents/lb, slight losses. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces increased by 100 VND, to range from 40,000 to 40,600 VND/kg.
The price of Arabica coffee on the New York Stock Exchange slowed down after the decision last week of the Monetary Policy Committee (Copom) – Brazil raised the basic interest rate of the Reais by 1.5%, from 9.25%/year to in rate of 10.75%/year. While the weather report that the main coffee growing regions in southern Brazil have had a lot of rain, good support for this year’s crop to develop.
Most of the major consuming markets have removed social distancing measures, as WHO considers the Omicron variant not as harmful as previously predicted, will support increased global coffee consumption. come back. However, USDX continued to strengthen, making New York speculators reluctant to buy, even though they had significantly liquidated last week.
On the contrary, coffee futures price in London adjusted up because the supply is still tight, especially farmers of the main Robusta producing countries in Southeast Asia have not yet stepped up to sell coffee at high prices. current, because the export purchasers apply too high deductions.
English (giacaphe.com)
