The price of coffee on the two futures exchanges fluctuated with caution, investors need to wait to hear more news…
Robusta chart London September 2021 session on 04/08/2021
At the end of the session, the price of Robusta coffee on ICE Europe – London tended to be mixed. The September spot futures fell $2, to $1,770/ton and the November delivery term was unchanged at $1,787/ton, while the futures for delivery were up slightly. Trading volume maintained on average. The island price structure closes the gap.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued the uptrend. September spot futures rose 0.80 cents to 175.65 cents/lb and December futures rose 0.85 cents to 178.70 cents/lb, slight gains. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 35,900 – 36,700 VND/kg.
Price of exported Robusta coffee grade 2.5% black broken, stood at 1,747 USD/ton, FOB – HCM, with a deduction of 50-60 USD/ton according to the November futures price in London.
The reais increased slightly by 0.07%, the exchange rate rose to 1 USD = 5.1880 reais in anticipation that the Brazilian Copom will raise the basic interest rate in the reais and the Fed will soon cut economic stimulus measures without do not let the year 2022 pass because inflation has already exceeded. The market is still concerned that US stocks will weaken again with lower-than-expected economic data reports and the increase of the new strain of covid-19 will lead to the possibility of re-establishing social distancing measures. return.
At the end of the day, Copom announced to raise the Reais base rate by 1% to 5.25%/year. This information will affect the agricultural commodity market today because Brazil is an exporter of agricultural products “giant” of the world.
Coffee prices in New York were more positive as there were many reports that the recent frost would cause a very significant damage to Brazil’s Arabica production in 2022, even though this year’s harvest is still incomplete. socks. However, “black frost” only causes mass defoliation and burning of the growth tips of the tree, so it is difficult to quantify.
Coffee prices in London slowed down as speculation continued to take short-term profits while new buying power was still unclear. Most investors are still on the sidelines, not only due to the summer holidays in the Northern Hemisphere but also the fear of a new strain of covid-19 outbreak everywhere.
English (giacaphe.com)
