The headwind from the Chinese market has slowed the exports of emerging markets, most investors continue to be cautious outside…
Robusta chart London September 2022 session on August 15, 2022
Ending the first session of the week, Robusta coffee prices on the ICE Europe – London exchange extended the rising chain to the tenth session. The September spot term increased by 4 USD, to 2,256 USD/ton and the November delivery term also increased by 4 USD, to 2,265 USD/ton, slight increases. Trading volume above average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. September spot futures fell 1.10 cents to 225.50 cents/lb and December futures fell 0.85 cents to 221.55 cents/lb, significant declines. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces increased from 0 to 100 dong, to range from 48,400 to 48,900 dong/kg.
Coffee futures prices returned mixed. While New York Arabica adjusted down after a hot rally, it was also due to the liquidation of net positions of Funds and speculation before the expiration date of the options contract and the first delivery date (FND) of this exchange on 23/08 as well. In the near future, the price of London Robusta coffee still retains its strength due to concerns about supply shortage from the main producing countries. Vietnamese goods are currently very difficult to buy because the hands of farmers are exhausted, although reported data shows that exports in the first 10 months of the current crop year have reached 1.4 million tons, and about 400,000 tons are in the hands of speculators. shared. With this number of goods, they wait for the opportunity to push the price up to make a profit.
The price of coffee fluctuated in the past session, also because USDX reversed to increase, putting emerging currencies at a disadvantage, commodities traded in greenback became expensive, most traders stood on the sidelines. out of the market without rushing to participate, so the trading volume on both futures exchanges is quite low. The Reais exchange rate fell slightly by 0.35% to 1 USD = 5,0920 R$, making Brazilians cautious about selling new crop coffee, in the context of many farmers complaining about the lack of output this year’s crop. as they expected.
The sharp drop in fertilizer prices and the spike in coffee prices at the end of the crop year are the driving force behind Vietnamese farmers to take care of their orchards during an important period. At this time, coffee plants need enough nutrients to develop berries and make kernels, deciding the yield and output of the new crop is only a few months away.
English (giacaphe.com)
