The market was in agreement when the Fed raised the USD interest rate by 0.75%…
Robusta chart London September 2022 session on 27/07/2022
Ending the session, the price of Robusta coffee on the ICE Europe – London floor continued the third session’s increase. The September spot term increased by 35 USD, to 2,009 USD/ton and the November delivery term increased by 33 USD, to 2,007 USD/ton, the increases were quite strong. Trading volume on average. London Robusta prices rose to a 3.5-week high.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. September spot futures added 5.90 cents to 219.10 cents/lb and December futures also added 5.90 cents to 215.35 cents/lb, strong gains. Trading volume very above average. New York Arabica prices rose to a two-week high.
The price of green coffee beans in the Central Highlands provinces increased by 700-800 VND, to range from 40,000 to 40,600 VND/kg.
The price of coffee futures rebounded strongly on both exchanges when many speculations were quite certain that Federal Reserve (Fed – USA) won’t be able “Eagle” at this policy meeting (review yesterday’s market news). As a result, the Fed has announced that it will raise the basic USD interest rate by 0.75% to 2.25 – 2.5%/year, two consecutive increases in 6 + 7/2022 have accounted for 1 .5%, the largest increase since the early 80s of the last century, in the context of inflation showing no signs of slowing down.
US stocks rebounded, long-term US Treasury bond yields and USDX dropped, commodity market covered in green as funds and speculators turned to buy again, although they were still cautious with trade volume. not high.
The reais increased by 1.92% to 1 USD = 5,2480 R$, which prevented Brazilians from selling coffee exports from slowing down.
English (giacaphe.com)
