Coffee prices on the two futures exchanges tend to be opposite when Robusta has many positive supporting fundamentals, notably frost weather in the South of Brazil and London floor has established an inverse price structure. in the near term…
Robusta London chart September 2021, week 26 (from June 28, 2021 to July 3, 2021)
For the whole week of 26, London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for September delivery increased by all 28 USD, or 1.67%, to 1,707 USD/ton and for November delivery increased by all 6 USD, or 0.35%, to 1,699 USD. /ton, slight increases. Trading volume high above average. London floor coffee price set inverse structure in the near term.
Meanwhile, the New York market had 1 gaining session and 4 decreasing sessions in a row. The price of Arabica coffee for September delivery fell all of 4.75 cents, or 2.92%, to 153.05 cents/lb and December delivery fell all of 4.70 cents, or 2. 88%, to 155.95 cents/lb, the drop is quite strong. Trading volume very above average.
The price of green coffee beans in the Central Highlands market increased by 400-500 dong, up to range from 35,600 to 36,200 dong/kg.
Coffee prices on the two floors tend to be opposite when it is forecast that Brazil will have frost in the last days of June. According to unofficial records, frost is likely to damage the Midwest, which accounts for more than 26%. Conilon Robusta coffee production of Brazil. However, the extent of frost damage is expected to be around the end of next week to have a full detailed report.
Meanwhile, the New York market fell again under the pressure of this year’s new harvest, although it was confirmed that Brazil had a serious crop failure, combined with the information that Colombia had opened highways to transport coffee. to export ports. The National Coffee Association (FNC) said some 700,000 bags of coffee exports that were stalled because of the protests in early May will be accelerated to offset in the coming months to ensure Colombia stays on track. exported high-quality wet-processed Arabica coffee this year.
As of Monday, June 28, the London floor’s certified Robusta coffee inventories had decreased by 1,840 tons, or 1.21 percent from a week earlier, to 150.85 tons (equivalent to 2,514. 167 bags, 60 kg bags) (?).
Note:
- Monday, July 5, the New York market is off (compensating) for the US National Day, closed all day without trading.
- The London market remains open as usual.
English (giacaphe.com)
