The selling pressure of the new crop that is currently being harvested from the producing countries makes the price of Robusta coffee on the London floor unable to recover…
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London adjusted up. Futures for delivery in January increased by 1 USD, to 1,812 USD/ton and term for delivery in March also increased by 1 USD, to 1,788 USD/ton, very slight increases. Trading volume quite below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. The March spot futures rose 5.30 cents to 160.40 cents/lb and the May delivery futures rose 5.05 cents to 160.75 cents/lb, strong gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 39,900 – 40,400 VND/kg.
The price of Arabica coffee in New York reversed to increase on the first day of announcement (FND), while the price of Robusta coffee in London only adjusted slightly due to the selling pressure of Vietnam’s new crop, which is currently in the harvest of Vietnam. coffee crop year 2022/2023.
Follow Barchart.comthe price of coffee futures adjusted up due to the buying and selling activities of funds and speculation when technical indicators showed that both derivative coffee markets had entered the zone. “oversold”.
Although the amount of coffee brought to ICE registered for testing is higher than the number that has been certified, the consumer market is still concerned about a short-term supply shortage because inventories are at a 23-year low.
Information that the OPEC + group of oil producing countries intends to increase the price of crude oil and China tightens restrictive measures, causing the market to fear that the expected increase in commodity consumption will be reduced before Thanksgiving this week. this.
English (giacaphe.com)
