Brazilians boosted sales of new crops after a religious holiday, combined with volatility from central banks raising monetary base interest rates, prompting speculation to cut positions…
Robusta chart London July 2022 session on June 17, 2022
At the end of the last trading session of the week, the price of Robusta coffee on ICE Europe – London reversed to decrease. Futures for spot delivery in July decreased by 26 USD, to 2,065 USD/ton and for September delivery decreased by 23 USD, to 2,079 USD/ton, significant reductions. Trading volume on average.
Similarly, the price of Arabica coffee on the ICE US floor – New York trended down. July spot futures fell 4.30 cents to 227.65 cents/lb and September futures fell 4.40 cents to 227.40 cents/lb, significant declines. Trading volume remain above average.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 VND, to range from 40,700 to 41,300 VND/kg.
The price of two-term coffee futures reversed and dropped in the general volatility of the global financial market after the adjustment of the monetary base interest rates of many major economies, forcing speculators to reconsider. position in commodity derivatives markets.
According to observers, most markets are concerned that excess inflation around the world could lead to a sharp increase in the monetary base interest rate, possibly leading to a global recession, while the covid-19 epidemic – 19 has not been completely controlled and the war in Eastern Europe is still protracted.
Although the energy crisis is haunting major industrial producers, oil stocks fell yesterday following the decline in the index and reflecting global recession fears after the Fed raised interest rates, showed concern about a general decline in consumption.
As speculated, shortly after the religious holiday, Brazilians returned to the market and increased sales of the currently harvested new crop, sales from the world’s leading coffee producer contributing to the decline. both coffee futures markets just before the July options expiration date.
Notify: Monday, June 20, Juneteenth holiday (also known as Freedom Day) ending American slavery, New York market closed all day without trading. The London market trades normally.
English (giacaphe.com)
