Balanced markets adjust positions as the March 2022 futures are about to end…
Robusta chart London 3/2022 session on January 28, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for delivery in March increased by 2 USD, to 2,193 USD/ton and term for delivery in May increased by 10 USD, to 2,184 USD/ton, slight increases. Trading volume above average. The island price structure continues to close the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. The March spot futures rose 3.85 cents to 235.90 cents/lb and the May delivery futures rose 3.80 cents to 236.45 cents/lb, fairly strong gains. Trading volume very above average.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 39,400 to 39,900 VND/kg.
Coffee futures prices reversed to recover at the end of the week in the adjustment and balance of speculative positions in the face of upcoming monetary policy fluctuations. This is the same method of short-term profit when speculating on derivatives exchanges.
The reais increased by 0.62%, bringing the exchange rate to 5,3900 R/USD, the highest level in more than 6 months thanks to strong foreign exchange inflows into the Brazilian market, which also supported New York coffee prices.
The global supply of Robusta is still congested not only because of the lack of empty containers and the lack of space on board, but also because the current price is not as expected. While the Vietnamese manufacturer market is considered to be inactive for about 2 weeks before and after the Lunar New Year.
Arabica coffee prices recover slightly with the new forecast of Rabobank thinks ICE stocks will fall below 1 million bags “in the coming months” also rekindled supply concerns, according to reports Barchart.com said.
English (giacaphe.com)
