plummets when it comes to first notification day (FND)

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Maturity in March on both exchanges has caused speculation to accelerate liquidation, causing coffee futures prices to fall sharply…

Robusta London May 2024 chart February 22, 2024

At the end of the trading session, Robusta coffee prices on ICE Europe – London exchange reversed and decreased. The March delivery term decreased by 78 USD, to 3,174 USD/ton and the May delivery term decreased by 64 USD, to 3,113 USD/ton, sharp drops. Trading volume remains quite high above average.

Similarly, the price of Arabica coffee on the ICE US – New York floor also tends to decrease. May delivery futures decreased by 4.95 cents, to 183.15 cents/lb and July delivery futures decreased by 4.55 cents, to 182.10 cents/lb, sharp drops. Trading volume remains above average.

The price of green coffee in the Central Highlands provinces decreased by 1,000 – 1,200 VND, fluctuating in the range of 81,800 – 82,600 VND/kg.

Coffee prices on both exchanges returned to a downward trend as funds and speculation continued to sell and liquidate their net purchased positions “exceed” Before that, when the March term on both exchanges was about to end trading.

ICE – Europe inventory report data yesterday, Thursday February 22, increased by 1,490 tons, or 7.61% compared to the previous day, up to 21,070 tons (equivalent to 351,167 bags, 60 kg bags). Recorded the first strong increase after many days of decline, mainly Conilon Robusta coffee from Brazil and some Robusta from Vietnam.

According to observers, the reduction of drought in Brazil is the main reason for the decline in coffee prices. Somar Met. reported that the Minas Gerais region last week received above-historic average rainfall, helping ease concerns that drought will affect the upcoming coffee crop’s productivity. In conjunction with StoneX, they have just forecast that Brazilian output in the 2024/2025 coffee crop will increase by 4.2% compared to the previous crop, up to 67 million bags and reported Vietnam’s January coffee exports. A sharp increase of 67.45% over the same period has put pressure on world coffee futures prices.

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