The heightened risk aversion pushed USDX up sharply, putting commodity prices in general at a disadvantage…
Robusta chart London September 2022 session on August 2, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London completed a short-term increase chain. The September spot futures fell by $4 to $2,027/ton and the November delivery term fell by $8 to $2,020/ton, significant reductions. Trading volume remain above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to decline for the fourth session. September spot futures fell another 3.30 cents to 209.90 cents/lb and December delivery also fell another 3.30 cents to 206.70 cents/lb, significant declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased from 0 to 100 dong, to range from 40,600 to 41,100 dong/kg.
The price of coffee futures dropped simultaneously due to concerns of excessive inflation and a recession of the world economy after CPI reports of many countries had weaker results than expected.
Trade Report June of the International Coffee Organization (ICO) cGlobal coffee exports have increased by 1.26% year-on-year. As a result, cumulative global coffee exports for the first nine months of the current coffee year 2021/2022 increased by 0.5% to 98.77 million bags compared with 98.32 million bags in the same period last crop year. .
Detailed ICO data also shows that, in the 12 months ending June 2022, exports of Arabica coffee totaled 80.78 million bags, a decrease of 1.81 million bags, while exports of Robusta coffee totaled 49.20 million bags, an increase of 2.26 million bags compared to the previous 12 months.
The USD rate increased by 1.93%, to 1 USD = 5,2770 R$, continuing to put commodity prices in general at a disadvantage. The market is concerned about increased risks with the possibility that the Fed will “Eagle” at the next monetary policy meeting and Copom – Brazil will not end the rate hike cycle at the meeting ending today, when “Inflation is out of control”.
English (giacaphe.com)
