Coffee prices on October 14, 2021: London adjusted, New York plummeted

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FOMC announced the minutes of the September meeting, although it was not outside the market’s speculation, it also reversed the stock market, causing the prices of many commodities to drop, including the greenback…

Robusta chart London T11/2021 session on October 13, 2021

At the end of the session, the price of Robusta coffee on the ICE Europe – London floor adjusted down. The November spot term decreased by 11 USD, to 2,133 USD/ton, the January delivery term decreased by 8 USD, to 2,143 USD/ton and the March delivery term decreased by 1 USD, to 2,096 USD/ton. slight reductions. Trading volume above average. The inverse price structure closes the gap.

On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. December spot futures fell 4.50 cents to 208.65 cents/lb and March 2022 delivery fell 4.45 cents to 211.60 cents/lb, significant declines. Trading volume quite above average.

The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 40,600 to 41,200 VND/kg.

Price of exported Robusta coffee grade 2.5% black broken, stood at 1,983 USD/ton, FOB – HCM, with a deduction at 150 – 160 USD/ton according to the January 2022 futures price in London.

Reais rose 0.50%, the exchange rate rose to 1 USD = 5.5090 Reais after an extraordinary swap auction of $ 1 billion by the Central Bank of Brazil (BC) made the greenback’s rise.

The price of coffee futures in New York reversed to fall sharply as soon as the FOMC released the minutes of the September meeting with the assessment that it was time to reduce asset purchases worth $120 billion per month from November and would end. end the buying process at the end of 2022. At the same time, the FOMC will consider the possibility of raising the basic USD interest rate in the upcoming meeting to prevent inflation from exceeding the target level. Although it is not out of the market’s speculation, the official announcement of the minutes of the meeting also caused the stock market to turn down and drag the prices of many commodities down, including the greenback. It seems that digital currencies benefit the most.

Although it also reversed the decline following New York, the price of Robusta coffee in London only adjusted slightly due to the strengthening of the Euro and speculators continuing to liquidate positions before the expiration of the November options contract at the end of this week. , while the supply of Robusta coffee from the main producing countries is still tight and the upward price trend is maintained.

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