The price of coffee on the two floors skyrocketed when the weather forecast for the next week of Somar Metorologia given…
Robusta chart London September 2021 session on June 28, 2021
Ending the first session of the week, Robusta coffee prices on ICE Europe – London continued the fourth session’s increase. The September spot term increased by 32 USD, to 1,711 USD/ton and the November delivery term increased by 30 USD, to 1,723 USD/ton, the increases were quite strong. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. September spot futures added 4.90 cents to 162.70 cents/lb and December futures added 4.80 cents to 165.45 cents/lb, strong gains. Trading volume quite above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, to range from 35,400 to 36,300 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,711 USD/ton, FOB – HCM, according to September futures price in London.
The reais increased slightly by 0.16%, the exchange rate rose to 1 USD = 4.9280 Reais due to the cautiousness and adjustment of investors’ positions before Brazil’s tax reform is still under discussion. While companies in the energy and transportation sectors continue to weigh on the US stock market.
Coffee prices spiked as the market received weather reports for the next 7 days of Somar Weather Forecast. In the second half of this week there will be a cold air mass entering southern Brazil and will cause frosts of varying degrees over the northern and northwestern coffee regions of the state of Paraná from Wednesday. (See price chart in session)
However, many investors are still cautious about the forecast of frosty weather, so the trading volume on both derivatives floors is not high.
Read more: >> Frost has hit 3 coffee states.
>> Frost damages coffee.
English (giacaphe.com)
