Without traders, the price of coffee on both exchanges dropped with very low trading volume…
Robusta chart London September 2022 session on July 21, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The September spot futures fell by $11, to $1,987/ton and the November delivery term fell by $10 to $1,984/ton, significant reductions. Trading volume remained very low below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. September spot futures fell 2.30 cents to 215.85 cents/lb and December delivery fell 2.20 cents to 221.75 cents/lb, very significant declines. Trading volume below average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 39,600 to 40,100 VND/kg.
The decision to raise interest rates by 0.5% for the first time in 11 years of European Central Bank (ECB) perceived by the market as “somewhat neutral and not very influential”. USDX’s downward correction has supported emerging currencies with more strength. Speculative capital flows back to securities.
The USD rate increased by 0.64% against the Reais, to 1 USD = 5,4950 R$, which would encourage Monetary Commission (Copom – Brazil) will be strong in managing the reais base interest rate in the upcoming policy meeting.
Coffee futures on both exchanges weakened due to the absence of investors in a dull session with low volume. The reais fell to a near six-month low that encouraged Brazilians to ramp up coffee sales.
Vietnam General Department of Customs Preliminary data reports show that coffee exports in the first half of July reached 58,365 tonnes (972,570 bags), down 2.46% year-on-year, bringing exports of the first 6.5 months of 2022 up. reached a total of 1,077,103 tons (about 17.95 million bags), an increase of 19.29% over the same period last year.
English (giacaphe.com)
