USDX and US stocks regained the momentum that pushed coffee futures prices into a prolonged decline…
Robusta chart London 1/2023 session on October 25, 2022
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to decline. Futures for delivery in January decreased by 5 USD to 1,948 USD/ton and term for delivery in March decreased by 6 USD to 1,933 USD/ton, slight decreases. Trading volume remained very high above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York dropped for the tenth consecutive session. The December spot futures fell another 4.60 cents to 185.80 cents/lb and the March delivery term fell another 2.45 cents to 182.50 cents/lb, significant reductions. Trading volume remained very high above average .
The price of green coffee beans in the Central Highlands provinces decreased by 0-100 dong, to range from 42,600 to 43,100 dong/kg.
USDX reversed to decrease but also did not support coffee prices because the currencies of Vietnam and Brazil loosened the exchange rate, which means that the two largest coffee producers in the world will increase their sales. Meanwhile, weather information in the main coffee regions in southern Brazil with favorable rain, promising a record bumper harvest next year also contributed to the price of Arabica coffee in New York to prolong the downward chain. rare. The prospect of abundant supply at the beginning of the new coffee crop year 2022/2023 has spurred funds and speculators to release their goods, in the face of worries about the world economic downturn causing a drop in coffee consumption demand.
English (giacaphe.com)
