The decline was somewhat prevented when farmers in major producing countries slowed down coffee sales…
At the end of the first session of the week, Robusta coffee prices on ICE Europe – London tended to be mixed. The January spot futures increased by $12 to $1,945 per tonne, while futures all fell. Specifically, the March delivery term decreased by 8 USD to 1,858 USD/ton and the May delivery term decreased by 12 USD to 1,824 USD/ton, significant reductions. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US exchange – New York continued to decline. The March spot futures fell by 0.10 cents, to 164.30 cents/lb and the May delivery futures also decreased by 0. 10 cents, to 164.50 cents/lb, slight declines. Trading volume remain above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200 dong, to range from 40,800 to 41,400 dong/kg.
The coffee futures markets continued to correct down at the beginning of the week due to the negative news on the Arabica coffee market. Meanwhile, the news that the US Treasury sold $45 billion of short-term bonds and $45 billion of medium-term bonds has attracted more attention from Wall Street investors. The heightened risk aversion with the news that the number of covid-19 cases in China is increasing, despite the insignificant report of the number, combined with the Fed’s prolongation of the interest rate hike has kept USDX going. weakening, support for emerging currencies to add value.
The reais fell slightly by 0.22%, the exchange rate fell to 1 USD = 5,3060 R$ along with the news that coffee in the Brazilian domestic market is currently very difficult to buy, preventing the decline in the futures markets.
English (giacaphe.com)
