Whether the price of coffee The futures are mixed but the trading volume on both exchanges is still not high, it seems that only speculators can liquidate and adjust their positions. and short-term profit taking…
Robusta chart London September 2021 session on 09/07/2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London increased for the third consecutive session. The September spot futures increased by 37 USD, to 1,744 USD/ton and the November delivery term increased by 26 USD, to 1,722 USD/ton, strong increases. Trading volume on average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York adjusted down. September spot futures fell 0.75 cents to 151.30 cents/lb and December futures fell 0.80 cents to 154.35 cents/lb, slight losses. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces increased by 500-600 dong, ranging from 36,000 to 36,700 dong/kg.
The price of exported 2.5% black Robusta coffee stood at $1,744 per ton, FOB – HCM, according to September futures prices in London.
The Reais rose 0.46%, the exchange rate rose to 1 USD = 5.2370 Reais, after the US Federal Reserve (Fed) confirmed that it would consider buying assets at the upcoming meeting due to inflation concerns. Excessive inflation and the European Central Bank (ECB) are also studying measures to reduce stimulus as the EU’s key economies ease social distancing this summer, causing the USDX to be cautiously falling again, which has supported support emerging currencies.
New York coffee prices adjusted down as Brazil still maintained good selling power, despite rumors that local farmers and traders had “rubbed” their goods for signed contracts at low prices.
On the contrary, speculation has strongly pushed the price to skyrocket on the London floor, which was too unexpected, beyond all expectations of observers and analysts.
However, even though coffee futures prices were mixed, the trading volume on both exchanges was still not high, it seems that only speculators could liquidate, adjust positions and take short-term profits in the trading session. weekend translation.
The US Weather Service predicts that there is a 60% chance of a La Nina weather phenomenon developing later this year, which will cause heavy rain for coffee producing countries on the Pacific Rim and dry conditions. for the coffee region in southeastern Brazil. However, this can only be confirmed in the next few months.
Vietnam’s disease outbreak, export decline is a concern of the London Robusta market in the short and medium term.
English (giacaphe.com)
