Weakening US stocks, falling USDX supported most commodity markets to increase their purchasing power, while the pressure of futures moving prevented the pull from New York so London had to turn around…
Ending the trading session after the Christmas holiday, Robusta coffee prices on ICE Europe – London continued the downtrend. The March spot term decreased by 6 USD to 1,969 USD/ton and the May delivery term decreased by 5 USD to 1,840 USD/ton, slight decreases. Trading volume is below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. March spot futures rose 6.60 cents to 173.55 cents/lb and May delivery futures rose 6.40 cents to 173.15 cents/lb, very strong gains. Trading volume is below average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 40,800 to 41,300 VND/kg.
Arabica coffee prices in New York have regained what was lost and more in the late opening session alone earlier. According to observers, although the volume of coffee brought to ICE awaiting approval for auction prices has improved markedly, the market still has major technical price waves of commodity and speculative funds. created very significant fluctuations with many fundamental factors having opposite effects.
Meanwhile, despite the support from the New York Stock Exchange, but London Robusta coffee price fell at the end of the session due to continued pressure to change the futures month and especially the report on the amount of coffee brought to the floor. waiting for testing has skyrocketed, up 95.96% compared to a week before, so had to turn around.
English (giacaphe.com)
