The cold weather forecast in Brazil combined with the report of a decrease in the North American coffee bean inventories has contributed to the increase in prices…
Robusta chart London September 2021 session on July 16, 2021
At the end of the last session of the week, Robusta coffee prices on the ICE Europe – London exchange returned to an uptrend. Spot futures in September increased by 11 USD, to 1,767 USD/ton and term for November delivery increased by 6 USD, to 1,756 USD/ton, slight increases. Trading volume very below average. The island price structure widens the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to increase. September spot futures added 4.30 cents to 161.35 cents/lb and December futures added 4.20 cents to 164.10 cents/lb, very strong gains. Trading volume very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 36,100 to 36,800 VND/kg.
The price of exported 2.5% black Robusta coffee stood at 1,756 USD/ton, FOB – HCM, according to the November futures price in London.
The reais increased slightly by 0.01 %, the exchange rate rose to 1 USD = 5.1160 Reais due to the correction at the end of the week and investors worried about high US inflation, while the fear of a new strain of covid-19 will negatively affect the recovery of the global economy, causing some emerging currencies to weaken again.
In addition to the fear of frost, which is forecasted late on Tuesday, July 20 in southern Brazil, contributing to the sharp increase in Arabica coffee prices is the report of a decrease in the inventory of coffee beans (GCA) in North America. to 18.2% in June, approximately the low of 5.51 million bags reported in June 2015. However, the market still considers the speed of speculators on the two futures exchanges more than that of real traders.
Robusta coffee prices have returned to an uptrend with a trading volume that is quite low below average, which is believed to be a price gap between the two exchanges, although there is also a contribution from concerns about delayed supply. because the shipping cost is too high.
English (giacaphe.com)
