The price of Arabica coffee maintained its upward momentum to attract traders to bring coffee to the auction registration floor…
Robusta chart London T11/2022 session on August 25, 2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange reversed to decline. The November spot term decreased by 36 USD, to 2,312 USD/ton and the term for delivery in January 2023 decreased by 33 USD, to 2,294 USD/ton, the reductions were quite strong. Trading volume on average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued the fifth consecutive increase. December spot futures added 0.50 cents to 239.50 cents/lb and March 2023 futures added 0.75 cents to 233.00 cents/lb, slight gains. Trading volume quite above average.
The price of green coffee beans in the Central Highlands provinces decreased by 600 – 700 VND, to fluctuate in the range of 48,800 – 49,500 VND/kg.
Coffee futures prices returned mixed. While London Robusta reversed down after a very strong option closing session, forcing speculation to deliver real goods by buying back at the floor, New York Arabica coffee prices maintained an uptrend to attract coffee from other countries. supply brought to the auction registration floor in the short and medium term.
The news that the Chinese government has aggressively stepped up economic support with measures worth more than 1 trillion yuan ($146 billion) has helped global financial markets to be optimistic again when Treasury yields US silver and USDX fell and crude oil kept gains.
The market continues to look forward to the speech of the Fed president at the Jackson Hole Conference and the minutes of the July meeting of the European Central Bank (ECB) will be released soon, although it is difficult to predict what.
ANhan Van (giacaphe.com)
