Two coffee futures exchanges are back in the green ahead of the first announcement day (FND)…
Robusta chart London T11/2021 session on August 20, 2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London reversed to recover. The September spot term increased by $19, to $1,862/ton and the November delivery term also increased by $19, to $1,882/ton, very significant increases. Trading volume remain above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York adjusted up. September spot futures rose 0.05 cents to 178.25 cents/lb and December futures rose 0.20 cents to 181.50 cents/lb, very slight gains. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 dong, ranging from 37,500 to 38,200 dong/kg.
Price of exported Robusta coffee grade 2.5% black broken, stood at 1,794 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the January 2022 futures price in London.
Reais rose 0.68%, the exchange rate rose to 1 USD = 5,3850 Reais due to doubts about the ability to cut economic stimulus measures of the US Federal Reserve (Fed) and capital investors. Foreigners expect the Brazilian government to not exceed the public spending ceiling. Meanwhile, US technology stocks jumped on concerns that the economic recovery would slow down because of the spread of the disease.
Coffee prices on the two floors regained the green before the first announcement (FND), in the context of a strong Reais currency that supported Brazilians to reduce sales and forecast the weather next week in the main coffee regions in the region. In the south, there is only negligible scattered rain.
It should also be noted that the world coffee market is still debating the impact of frost on Brazil’s 2022 crop.
English (giacaphe.com)
