The stronger USDX supported many commodities on the derivatives markets but continued to cause mixed coffee prices on the two exchanges…
Robusta London chart September 2021, week 27 (July 5, 2021 – July 10, 2021)
For the whole week of 27, the London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for September delivery increased by all of 37 USD, or 2.17%, to 1,744 USD/ton and for November delivery increased by all 23 USD, or 1.35%, to 1,722 USD. /ton, the increase is quite strong. Trading volume on average. London floor coffee prices maintain inverse structure.
Meanwhile, the New York market had 2 increasing sessions and 2 decreasing sessions. The price of Arabica coffee for September delivery fell all of 1.60 cents, or 1.05%, to 151.50 cents/lb, and December delivery fell all of 1.55 cents, or 1. 03%, to 154.35 cents/lb, significant reductions. Trading volume above average.
The price of green coffee beans in the Central Highlands market increased by 400-500 VND, up to range from 36,000 to 36,700 VND/kg.
The price of coffee on the two floors continued to trend opposite when there were many information that the damage caused by frost in Brazil did not have specific statistics, while the selling pressure of the new crop remained intact. The latest is information about the third survey trip of Ms. Judy Ganes-Chase, a reputable consultant in the world coffee market, but the opinion given is only about 1% of the potential loss of crop output. after. However, she believes that the output of the crop currently being harvested can be reduced by at least 5% compared to the forecast at the beginning of the year. The market is waiting for this opinion to be clarified.
On the contrary, London coffee prices maintained their upward momentum due to fears of an outbreak of the Covid-19 epidemic across the Robusta coffee producing countries in Southeast Asia, which slowed exports, combined with soaring sea freight rates, making it difficult for coffee to grow. It is also difficult for both buyers and sellers to deliver goods at this time.
According to a report by the International Coffee Organization (ICO), global coffee exports in May only reached 9.79 million bags, down more than 10.10% compared to the same period last year. However, cumulative global coffee exports in the first eight months of the current crop year 2020/2021 are 2.20% higher than in the same period last year, totaling 87.30 million bags. In particular, coffee originating from Brazil accounts for 35% of global coffee exports to consumer markets.
As of Monday, July 6, inventories of Robusta coffee certified by the London floor have decreased by 1,720 tons, or 1.14% from a week earlier, to registered at 149,130 tons (equivalent to 2,485. 500 bags, 60 kg bags).
English (giacaphe.com)
