Coffee prices on June 15, 2022: Robusta is still weak

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There have been more mixed views on the possibility that the Fed will “Eagle” at the ongoing policy meeting…

Robusta chart London July 2022 session on June 14, 2022

At the end of the session, the price of Robusta coffee on the ICE Europe – London floor adjusted down. Futures for delivery in July decreased by 2 USD to 2,037 USD/ton and for September delivery decreased by 2 USD to 2,053 USD/ton, slight decreases. Trading volume above average.

On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to recover. July spot futures rose 3.60 cents to 226.95 cents/lb and September futures rose 3.45 cents to 226.90 cents/lb, fairly strong gains. Trading volume remained very above average.

The price of green coffee beans in the Central Highlands provinces decreased by 0-100 VND, down to the range of 40,000-40,500 VND/kg.

While New York Arbica coffee prices benefited as speculative capital flows from cryptocurrency exchanges fled the turmoil, London Robusta coffee prices did not follow as usual. The market is concerned that the European Central Bank (ECB) will be stronger, possibly doubling its previous plan, in managing the currency after the report of economic growth in the Eurozone was not as expected. because the negative effects of the war in Eastern Europe caused a severe energy crisis and excessive inflation. In addition, the UK’s economy continues to decline before Brexit, there are still many uncertainties in the issue of Ireland has not supported the London floor coffee price and the main European stock indexes.

The market is looking ahead to the Fed policy meeting now underway with more mixed speculations, notably the view that more attention will be paid to the current global recession that is no longer at the meeting. May makes the Fed will not “Eagle” as stated. While Copom – Brasil also conducts policy meeting in June and will announce the decision later today.

The market continued to monitor the progress of this year’s harvest in Brazil, while the news of the frosty weather on the June full moon passed without leaving any significant mark.

. English (giacaphe.com)

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