The pressure from the upcoming monetary tightening continues to have a negative impact on the overall global market sentiment…
Robusta chart London September 2022 session on June 27, 2022
At the end of the first session of the week, Robusta coffee prices on ICE Europe – London continued the downtrend. The September spot futures fell by 4 USD to 2,040 USD/ton and the November delivery term decreased by 6 USD to 2,031 USD/ton, slight decreases. Trading volume below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. September spot futures fell another 1.15 cents to 222.10 cents/lb and December futures fell another 1.20 cents to 220.25 cents/lb, significant losses. Trading volume remain above average.
The price of green coffee beans in the Central Highlands provinces decreased by 0-100 VND, to range from 39,900 to 40,500 VND/kg.
Coffee futures prices continued to decline after a session with low volume due to pressure from US stock exchanges’ downturn, especially technology stocks underperformed and USDX remained unchanged in value. as US Treasury yields continued to move higher in the face of upcoming anti-inflation pressures from the Fed and concerns that higher interest rates in major economies would lead to a recession impacted overall market sentiment.
The Coffee Hedge Fund (Funcafé) in Brazil has provided 5.49 billion reais of credit to support this year’s harvest, including 1.13 billion reais to buy coffee for reserve at interest rates interesting.
The reais rate continued to fall slightly, encouraging Brazilians to boost sales of new crop coffee.
English (giacaphe.com)
