Concerns about the limited supply of Robusta coffee have spurred the industry to continue buying, but the risk may increase over the possibility that the Fed will be more aggressive in preventing a recession…
At the end of the trading session on December 7, 2022, the price of Robusta coffee on ICE Europe – London tended to be mixed. Futures for delivery in January increased by 2 USD, to 1,918 USD/ton, while futures contracts all decreased. Specifically, the term for delivery in March decreased by 9 USD to 1,868 USD/ton and the term for delivery in May decreased by 11 USD to 1,845 USD/ton, significant reductions. Trading volume is above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. The March spot futures fell 3.30 cents to 160.20 cents/lb and the May delivery futures fell 3.20 cents to 160.90 cents/lb, significant declines. Trading volume is above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200 dong, to range from 41,200 to 41,800 dong/kg.
Although USDX continues to decline, has supported prices of many commodities to rise again with the information that the Chinese market is easing covid prevention measures, while the economic data of the world’s largest consumer This weaker world has poured cold water on the consumer market. US stocks continued to be negative with investors weighing upcoming currency interest rates and the prospect of economic recession causing coffee futures prices to reverse downward.
English (giacaphe.com)
