Coffee prices continue to benefit thanks to gold prices and crude oil prices continuing to decline, while negotiations in Eastern Europe seem to fall into a dilemma…
Robusta chart London T5/2022 session on March 30, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for delivery in May increased by $27, to $2,152/ton and for July delivery, increased by $25, to $2,140/ton, significant increases. Trading volume below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to increase. Spot futures in May added 6.15 cents to 221.85 cents/lb and futures for July delivery added 6.10 cents to 221.90 cents/lb, strong gains. Trading volume quite above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, fluctuated in the range of 40,800 – 41,400 VND/kg.
Negotiations between Russia and Ukraine continue to be of interest to most markets. However, the stalemate continued even though both sides had “try” meet to reach a peace agreement. It seems that the markets are in a short-term dilemma between war and commodity prices.
Coffee prices returned to the upside thanks to the support of the stronger Brazilian Reais exchange rate. While US stocks weakened a bit due to the outcome of the Eastern European negotiations, no progress was recorded.
According to observers, the weather in the main Arabica coffee region in southern Brazil is facing a dry winter, which has raised concerns that this year’s crop will not be as expected.
English (giacaphe.com)
