Cecafé – Brazil’s report of a decrease in exports helped the New York Stock Exchange to regain its upward momentum…
Robusta chart of London 3/2022 session on December 13, 2021
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London continued to decline. Futures for delivery in January decreased by 1 USD to 2,375 USD/ton and term for delivery in March decreased by 4 USD to 2,287 USD/ton, slight decreases. Trading volume below average. The island price structure widens the gap.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. Futures for March delivery were up 4.10 cents, to 236.70 cents/lb, and for May delivery, up 4.15 cents to 236.50 cents/lb, strong gains. Trading volume above average. The island price structure continues to close the gap.
The price of green coffee beans in the Central Highlands provinces decreased from 0 to 100 dong, to range from 42,100 to 42,500 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 2,037 USD/ton, FOB – HCM, with a deduction of about 230 – 250 USD/ton according to the March futures price in London.
The Reais fell 1.06%, the rate fell to 1 USD = 5.6740 Reais on expectations that the Fed will cut economic stimulus affecting the forex market and showing interest that the Omicron variant will boost momentum. The world economic growth slowed down, making USDX steadily gaining momentum and goods continued to be more expensive.
World coffee futures prices are mixed. New York regains a positive trend following the export report of the Exporters Association (Cecafé) in Brazil.
According to Cecafé – Brasil, coffee exports in November only reached 2.57 million bags of coffee beans, down 48.68% over the same period last year, including 2.39 million bags of Arabica natural coffee, down 41.46 % and 186,081 bags of Conilon Robusta coffee, down 44.39% over the same period.
On the contrary, the price of Robusta coffee continued its decline due to the liquidation and balance of speculative positions before the London January futures expiration date at the end of this week.
Storm No. 9, international name Rai, will enter the East Sea with strong intensity. However, according to international weather forecast firms, the ability to cause only moderate rain in the central coastal provinces of our country will hinder the harvesting and drying of coffee at the sprint stage for a few days when the storm hits. Storms tend to move northward.
ANhan Van (giacaphe.com)
