The weather forecast in Brazil that there is no longer a risk of frost caused the New York futures price to reverse down despite continuing to increase “shockingly” before…
Robusta chart London September 2021 session on July 23, 2021
Ending the session, the price of Robusta coffee on ICE Europe – London increased for the fourth consecutive session. The September spot term increased by 10 USD to 1,899 USD/ton and the November delivery term increased by 12 USD to 1,907 USD/ton, slight increases. Trading volume remained very high above average. The island price structure holds the gap.
On the contrary, the price of Arabica coffee on the ICE US floor – New York adjusted down after a series of shock increases. September spot futures fell 4.65 cents to 189 cents/lb and December futures also fell 4.65 cents to 191.95 cents/lb, sharp declines. Trading volume maintained very well above average..
The price of green coffee beans in the Central Highlands provinces increased by 0-100 VND, to range from 37,400 to 38,000 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,807 USD/ton, FOB – HCM, with a deduction of 90-100 USD/ton according to the November futures price in London.
The reais increased slightly by 0.01 %, the exchange rate rose to 1 USD = 5,2100 Reais after weakening at the beginning of the session due to rising inflation concerns and the COVID-19 epidemic.
Coffee prices on the New York floor reversed to decrease, after continuing to increase “shockingly” before, due to the forecast that frost will decrease in the main coffee growing states of Brazil.
On the contrary, the price of Robusta coffee surged like a storm at the beginning of the session when speculation increased buying due to the report that certified inventories on the London floor decreased again. Some observers suggest that this phenomenon is also due to adjustment “panic” of speculators when the price gap between the two exchanges is already too high.
Although London futures prices cooled down at the end of the session, they were still slightly up from the previous session due to concerns about tight supply due to high shipping rates and the outbreak of a new variant of the COVID-19 epidemic in Vietnam. Southeast Asia region.
English (giacaphe.com)
