Despite the strong pull from the New York Stock Exchange, the price of Robusta coffee has softened due to the caution of speculators…
Robusta chart London May 2022 session on April 21, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to increase. The May spot futures increased by $19, to $2,094/ton and the July delivery term increased by $22 to $2,114/ton, very significant increases. Trading volume remain above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has an upward trend. The May spot futures rose 9.35 cents to 228.15 cents/lb and the July delivery futures rose 8.65 cents to 228.10 cents/lb, very sharp declines. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces increased by 300-400 dong, up to range from 40,300 to 40,900 dong/kg.
After completing the May futures contract, speculators on the New York Stock Exchange hastily returned to buy as speculated and strongly pushed the price up to a rare level in the trading session of the announcement day. first delivery (FND) of the May term.
Meanwhile, the price of Robusta coffee is under downward pressure when the number of open contracts is still quite high that need to be liquidated before the first announcement date of the May term on London floor, April 26.
Although the pull from the New York floor helped the price of Robusta coffee reverse to skyrocket, the volume of trade was still not high due to the prudence of speculators, so the London floor price had somewhat softened before closing.
English (giacaphe.com)
