The cold weather forecast in Brazil is likely to cause frost, making the two coffee exchanges cautious…
Robusta chart London September 2021 session on 15/07/2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London floor adjusted down in the near term. The September spot futures fell by $6 to $1,756 per ton and the November delivery term also fell by $6, to $1,750 per ton, a slight decrease. Trading volume remain average. The island price structure stabilizes the gap.
On the contrary, the price of Arabica coffee on the ICE US floor – New York maintained an uptrend. September spot futures added 0.45 cents to 157.05 cents/lb and December futures also added 0.45 cents to 159.90 cents/lb, slight gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces decreased from 0 to 100 VND, to range from 36,000 to 36,600 VND/kg.
Price of exported Robusta coffee grade 2.5% black broken, stood at 1,750 USD/ton, FOB – HCM, according to the November futures price in London.
The reais fell 0.64%, the exchange rate fell to 1 USD = 5.1170 Reais in the context of high domestic political risks. While the US inflation increased, promoting the possibility that the Fed will cut stimulus and soon raise the basic interest rate in the USD right in the last quarter of this year, causing USDX to rise strongly, causing the US stocks to go red.
Coffee futures prices are mixed again as there is further forecast of cold air entering the Arabica coffee growing regions in southern Brazil in the first half of next week and potentially causing a low-level local frost.
Meanwhile, the price of Robusta coffee moved quite cautiously in a downward correction because the previous session was too hot. However, the very significant impact of the New York market helped the London market to remain green in the distant futures.
English (giacaphe.com)
