Long-term US Treasury yields falling below 3% have failed to support overall commodity prices…
Robusta chart London 7/2022 session on 07/06/2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange turned to a downtrend. Futures for spot delivery in July decreased by 24 USD to 2,109 USD/ton and for September delivery decreased by 19 USD to 2,121 USD/ton, significant reductions. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York trended down. July spot futures fell 5.40 cents to 232.15 cents/lb and September futures fell 5.30 cents to 232.35 cents/lb, very strong declines. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 VND, to range from 41,200 to 41,800 VND/kg.
US stocks reversed gains after long-term US Treasury yields fell below 3% helped US stocks regain the green, after spending most of the day in the red , did not support commodity prices in general.
The price of coffee on the two futures floors dropped when there was a monetary support. The recovery of the world economy after Shanghai reopens with many positive signals from the Chinese Government will make the Fed “Eagle” More in controlling inflation has pushed USDX to regain its upward momentum, invisibly weakening emerging currencies again. A falling reais will spur Brazilians to sell coffee at the price they are benefiting from, while new-crop beans are now abundant.
Preliminary data from Vietnam Customs shows that coffee exports in May reached 142,329 tons (equivalent to 2,372,150 bags), up 9.28% year-on-year, bringing coffee exports in 5 The first month of 2022 reached a total of 881,565 tons (about 14.69 million bags, 60 kg bags), an increase of 23.25% compared to exports in the first 5 months of last year, which is the reason for the price of Robusta coffee on London Island. short-term decline.
English (giacaphe.com)
