Coffee prices on both exchanges continued their upward momentum but risk aversion kept trade volume below average…
Robusta chart London July 2022 session on April 29, 2022
At the end of the last session of the week, the price of Robusta coffee on ICE Europe – London continued to increase. The July spot futures increased by 18 USD, to 2,107 USD/ton and the September delivery term increased by 15 USD, to 2,109 USD/ton, significant increases. Trading volume remain average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. July spot futures added 4.50 cents to 222.10 cents/lb and September futures also added 4.50 cents to 221.90 cents/lb, strong gains. Trading volume remain below average.
The price of green coffee beans in the Central Highlands provinces increased by 300-400 VND, up to range from 40,700 to 41,300 VND/kg.
The two futures coffee exchanges continued the gain in the last session of the week due to the basic news mentioned in yesterday’s news (*reread the newsletter on April 29, 2022). Besides, there was also the support of the news that USDX increased by 2.77% in the past week despite the intraday decline and US stocks dropped again after the report of negative US GDP growth. Speculative capital flow “run away” back to commodity exchanges in general.
The long weekend and the last session of the month made speculators cautious, with more pressure from next week’s monetary policy meetings also keeping them outside to avoid risks. As a result, the trade volume on both exchanges remained below average despite the increase in coffee prices.
Notify: Monday, 2nd May, London market is closed for Bank Holiday. The New York market is open late.
English (giacaphe.com)
