The strong trend of the Reais has prompted Brazilians to increase selling to hedge new crops during the harvest season…
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to decline. Futures for delivery in July decreased by 14 USD to 1,582 USD/ton and for September delivery decreased by 13 USD to 1,608 USD/ton, significant reductions. Trading volume remained very high above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York dropped for the third consecutive session. July spot futures fell another 0.50 cents to 157.20 cents/lb and September futures fell another 0.55 cents to 159.30 cents/lb, slight losses. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by another 100-200 VND, down to the range of 33,600 – 34,300 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,608 per ton, FOB – HCM, according to September futures prices in London.
The Reais fell slightly by 0.59%, the exchange rate fell to 1 USD = 5,0700 Reais due to the technical correction of the Brazilian market and the weakening of the US Stocks also negatively affected the commodity markets in general. . In addition, investors are also looking forward to the US inflation results report and the European Central Bank (ECB) policy report due out today, which will affect the Copom Brasil policy meeting next week. next.
Coffee prices continue to weaken as the weather forecast in Brazil will have significant rain in the next few days, contributing to improving the quality of this year’s crop of Arabica beans, while the Conilon Robusta coffee harvest report has dropped. exceed 50% .