Although the price of coffee on the two exchanges is opposite, it has not yet shown the price trend in a specific way…
Robusta chart London T5/2022 session on 09/03/2022
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to increase. The spot futures in May increased by 23 USD, to 2,117 USD/ton and the term for delivery in July increased by 25 USD, to 2,096 USD/ton, good increases. Trading volume above average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. The May spot futures fell 3.60 cents to 229.30 cents/lb and the July delivery futures fell 3.45 cents to 228.25 cents/lb, significant declines. Trading volume remained quite above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, up to range from 40,100 to 40,600 VND/kg.
The war against the army “aggression” Seems to be somewhat softened when Ukraine shows that it no longer wants to join NATO as the goal of the Russian side when sending troops over the border. Risk aversion also eased, causing USDX to plummet, leading to a drop in raw materials. Gold and crude oil prices also reversed to decline so that speculative capital flows back to stock exchanges and digital currency exchanges.
Coffee futures prices were mixed when the New York Arabica floor adjusted down quite sharply after the previous session of overheating, despite Brazilian coffee farmers voicing concern that rising fertilizer prices would affect negative for production.
Meanwhile, the London Robusta floor, although still volatile according to New York, has regained its strength due to the expectation that global coffee consumption will increase again and inventory levels will be improved. “certification” at the floor is still below the psychological threshold.
USDX reversed down and US stocks continued to decline, causing speculation to shift capital flows, and this time the coffee derivatives exchanges were chosen after the previous series of very strong declines.
English (giacaphe.com)
