Coffee price Futures continued to move in the opposite direction, but on the contrary, increased sharply in New York and stable at London…
Robusta chart London September 2022 session on August 3, 2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange adjusted the mixture. September spot futures decreased by 1 USD to 2,026 USD/ton and November delivery term increased by 3 USD to 2,023 USD/ton, slight increases/decreases. Trading volume remain above average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to recover. September spot futures rose 4.75 cents to 214.65 cents/lb and December futures rose 4.55 cents to 211.25 cents/lb, flat levels. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 40,600 – 41,100 VND/kg.
Coffee futures prices returned mixed, with Robusta correcting slightly and Arabica recovering strongly.
Besides the negative effects of the current market, the price of coffee futures has more support as Brazilians reduce their export coffee sales when the USD exchange rate slightly decreases by 0.01% to 1 USD = 5. ,2760 R$, while there is much speculation that the yield of the crop being harvested is not as expected as a result of the dry weather and frosts last year.
Coffee Exporters Association (Cecafé) in Brazil reported a 2.72% increase in July coffee bean exports compared to the same period last year, as prices in New York have improved significantly and logistics problems are no longer stressful. Moreover, because last year Brazilian coffee trees fell in a year of cyclically low production “two years one”.
Monetary Policy Committee (Copom) Brazil decided to raise the Reais base rate by 0.5% to 13.75%/year and is also uncertain about the end of the operating rate hike cycle because inflation is still high. However, the results of the session are announced at the end of the day, so it will affect the market in general from today.
US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan still makes noise, but with the impression that the worst has passed.
English (giacaphe.com)
