The world coffee futures market is still under pressure to sell new crops from leading producers and exporters…
Robusta chart London July 2022 session on June 21, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for spot delivery in July increased by 23 USD, to 2,087 USD/ton and for September delivery increased by 24 USD, to 2,101 USD/ton, significant increases. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has an upward trend. September spot futures rose 4.95 cents to 232.35 cents/lb and December futures rose 4.70 cents to 231 cents/lb, strong gains. Trading volume very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, up to range from 41,000 to 41,600 VND/kg.
The price of two-term coffee futures bounced up with the recovery of US stocks and the yield on long-term US Treasuries to a high of 3.3%, pushed USDX higher again, pulling the prices of most of the markets. All commodity markets followed suit.
Follow Barchart.comthe price of coffee futures rebounded due to Somar Met. The report of excessively dry weather in Minas Gerais, the main Arabica coffee growing state in southern Brazil last week recorded no rain, not only causing a decrease in the output of the beans being harvested but also creating a favorable conditions for frost formation in the coming full moon days of July.
Today, June 22, is the first announcement date (FND) of the New York Stock Exchange, the price of Arabica coffee will no longer be subject to the pressure of speculation, liquidation, and futures.
Meanwhile, the market still has the pressure of selling new crop from Brazil, the leading producer and exporter of coffee when the Reais weakens again.
. English (giacaphe.com)
