The decline in global export reports combined with a deep drop in inventories at the two exchanges caused coffee prices to reverse and increase, as markets returned to concerns about supply…
Robusta chart London 3/2022 session on 07/01/2022
At the end of the last session of the week, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for delivery in March increased by 9 USD, to 2,316 USD/ton and term for delivery in May increased by 11 USD, to 2,266 USD/ton, significant increases. Trading volume quite below average. The island price structure maintains the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York returned to an uptrend. Futures for delivery in March rose 6.75 cents to 238.45 cents/lb and futures for May delivery rose 6.45 cents to 238.30 cents/lb, strong gains. Trading volume very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, to ranged in the range of 41,300 – 41,700 VND/kg.
Price of exported Robusta coffee grade 2.5% black broken, stood at 2,016 USD/ton, FOB – HCM, with a deduction of about 240 – 250 USD/ton according to the May futures price in London.
Reais rose 0.82%, rate to $1 = 5.6320 Reais on the rise of emerging currencies, as US Treasury yields rose and USDX fell, a sign of further inflation continue to exceed the level although this trend is still not really clear. US stocks just had a week “terrible” the most in nearly a year, leading to a plunge in cryptocurrency exchanges.
Coffee futures prices reverse upward as markets return to supply concerns, with inventories reported “certification” on both exchanges continued to decline. While logistics issues cannot be resolved in the short term and the adjustment, balance of speculative positions on the speculation that the Fed will raise the basic USD interest rate in 2022 may be more times than expected.
English (giacaphe.com)
