Funds and speculators continue to adjust and balance their positions before the expiration of options contracts…
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange increased. Futures for delivery in January increased by 23 USD, to 1,915 USD/ton and term for delivery in March increased by 5 USD, to 1,877 USD/ton, significant increases. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to increase. March spot futures added 0.25 cents to 168.15 cents/lb and May futures added 0.35 cents to 168.50 cents/lb, slight gains. Trading volume is below average.
The price of green coffee beans in the Central Highlands provinces increased by 100 dong, to range from 41,200 to 41,700 dong/kg.
The coffee futures markets continued to adjust the balance of speculative positions before the expiration of the options contract in a positive trend thanks to the support of the inventory reports at the two exchanges still standing at multi-year lows. .The market accepted the Fed’s decision to raise the USD interest rate by 0.5% this time gently due to previous speculation, so there was no negative reaction, even though there was no signal. shows when the Fed will end its rate hike cycle.
According to the November export report of Cecafé – Brazil, the export result of coffee beans in the month was only 3.30 million bags of Arabica coffee, up 25.49% and 98,995 bags of Conilon Robusta coffee, down 55.27% compared to the same period last year.
Trade in the Brazilian domestic market has reflected that Conilon Robusta coffee is currently very difficult to buy due to competitive demand from the domestic industry, but the main thing is that this year’s crop production is not as high as expected. before.
English (giacaphe.com)
