The basic principles of the coffee futures market have not had any notable changes…
At the end of the trading session, Robusta coffee prices on ICE Europe – London floor continued to adjust. March delivery futures decreased another 18 USD, to 3,287 USD/ton and May delivery futures decreased another 17 USD, to 3,151 USD/ton, very significant reductions. Trading volume is above average.
In contrast, Arabica coffee prices on the ICE US – New York floor have a mixed trend. March delivery futures increased by 0.15 cents, to 194.20 cents/lb and May delivery futures remained unchanged, still at 190.95 cents/lb, while July delivery futures decreased slightly by 0.05 cents. , down to 189.85 cents/lb, very slight changes. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces decreased by 200 – 300 VND, fluctuating in the range of 78,000 – 79,000 VND/kg.
DXY fluctuates erratically and the rainy weather forecast in southern Brazil is uncertain, causing funds and speculators to make technical corrections on the New York stock exchange and take short-term profits on the London stock exchange, after export group Comexim in Brazil raised its estimate of Brazilian coffee exports in the 2023/2024 crop year to 44.9 million bags, from a previous estimate of 41.5 million bags.
Meanwhile, Robusta coffee prices reversed the positive gains from the beginning of the session, despite the ICE – London inventory report data yesterday, Thursday February 1, having decreased by another 540 tons, or a decrease of 1 87% compared to the previous day, down to 28,320 tons (about 472,000 bags, 60 kg bags) continuing to stand at the lowest level since 2014.
Many opinions disagree with rumors that Vietnamese coffee farmers are currently hoarding goods and do not want to sell them at current prices, while data reported by the General Statistics Office of Vietnam shows that coffee exports in In the first 4 months of the 2023/2024 crop year, nearly 600,000 tons were exported, so it cannot be said that Vietnamese farmers are hoarding goods.
English (giacaphe.com)
