The New York Exchange completed the July futures option contract, which helped support the recovery of coffee prices at the end of the session.…
Robusta chart London July 2021 session on June 18, 2021
At the end of the week, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for spot delivery in July increased by 15 USD, to 1,584 USD/ton and for September delivery increased by 18 USD, to 1,516 USD/ton, significant increases. Trading volume very above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also adjusted up. July spot futures rose 0.35 cents to 149.90 cents/lb and September futures also gained 0.35 cents to 151.95 cents/lb, slight gains. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 VND, up to range in the range of 33,700 – 34,500 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,616/ton, FOB – HCM, according to September futures prices in London.
Reais fell 0.93%, the exchange rate fell to 1 USD = 5,0710 Reais due to the push to sell shares in the process of privatization of state-owned companies and the general volatility of the commodity market before the option contract expiration date.
Most of the markets in general have partially recovered from yesterday’s losses due to the “panic” of speculative sentiment on speculation that the Fed will raise the basic interest rate in USD sooner than expected.
According to analysts, the completion of the July futures options contract on the New York Stock Exchange helped support coffee prices to recover at the end of the session after falling very deeply before.
The recovery in coffee prices was also supported by the May export report, which fell by 52% year-on-year, to only 427,000 bags after the National Coffee Federation (FNC) – Colombia said it was finished. remove blockade of highways to resume transporting coffee to export ports.
English (giacaphe.com)
