The coffee futures market continues to show concerns besides the embargoes because of the war in Eastern Europe, as China blocked the Shanghai freight center to prevent the new Covid-19 variant…
Robusta chart London T5/2022 session on April 1, 2022
At the end of the last session of the week, the price of Robusta coffee on ICE Europe – London reversed to decrease. Spot futures in May decreased by 26 USD, to 2,139 USD/ton and the term for delivery in July decreased by 22 USD, to 2,130 USD/ton, very significant reductions. Trading volume above average.
In contrast, the price of Arabica coffee on the ICE US floor – New York increased for the fourth consecutive session. The May spot futures increased by 2 cents to 228.40 cents/lb and the July delivery also added 2 cents to 228.45 cents/lb, very significant gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces decreased by 400-500 VND, to range from 40,600 to 41,200 VND/kg.
Global markets continued to be disappointed with inconsistent statements from both sides about the prospect of ending the war in Eastern Europe. However, with some positive US economic data reports, especially the higher-than-expected March jobs report and steady growth of the index of industrial production (IIP), which helped US stocks. accelerated at the close to end positive, while the Brazilian reais continued its 1.99% gain to stand at 4,666 R = 1 USD.
Meanwhile, China announced a blockade of Shanghai for a while to prevent the spread of the new variant of Covid, also raising concerns about the movement of goods in East Asia, which has been stagnant for a long time.
English (giacaphe.com)
