The coffee futures market has many more negative factors supporting the downward price trend…
At the end of the trading session, Robusta coffee prices on the ICE Europe – London floor dropped for the third consecutive session. March delivery futures decreased another 97 USD, to 3,187 USD/ton and May delivery futures decreased another 73 USD, to 3,090 USD/ton, sharp drops. Trading volume is very high above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor also decreased for the third consecutive session. March delivery futures decreased another 5.95 cents, to 187.05 cents/lb and May delivery futures decreased another 5.25 cents, to 182.80 cents/lb, quite sharp drops. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces decreased by 1,200 – 1,300 VND, fluctuating in the range of 76,900 – 77,800 VND/kg.
Forecasts of rain in the main coffee growing regions of southern Brazil in the next two weeks have weighed on coffee futures prices. DXY continues to rise strongly in the basket of currencies and the pressure of first announcement day (FND) on both exchanges has prompted speculation to liquidate current net positions to minimize risks, while expectations of the Fed will The start of the interest rate cutting cycle is increasingly receding after reports of positive growth in US economic indicators.
The main impact on coffee futures markets in recent sessions is the report of the Coffee Exporters Association (Cecafé) in Brazil showing that coffee exports in January increased by 39% over the same period. Last year, of which Arabica coffee reached 3,208 million bags, accounting for 80.98% of the total volume and Conilon Robusta reached 457,787 bags, accounting for 11.56% of the total export volume. Data reported by ICE – Europe yesterday, Wednesday, February 14, decreased by another 960 tons, or a decrease of 3.94% compared to the previous day, down to 23,430 tons (about 390,500 bags, 60 kg bags), continuing continues to stand at a record low since 2014.
English (giacaphe.com)
