Inventory reports on both exchanges supported world coffee futures prices to fluctuate, increasing in London and decreasing in New York.
Robusta London chart T5/2022 week 10 (from March 7, 2022 – March 12, 2022)
For the whole week of 10, London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for May delivery increased by all 57 USD, or 2.80%, to 2,095 USD/ton and for July delivery increased by all 59 USD, or 2.93%, to 2,072 USD. /ton, the increases are very significant. Trading volume on average.
Meanwhile, the New York market had 2 gaining sessions and 3 decreasing sessions in a row. The price of Arabica coffee for May delivery fell all of 2.30 cents, or 1.03%, to 221.95 cents/lb and for July delivery fell all of 1.60 cents, or 0. 72 %, to 221.40 cents/lb, significant reductions. Trading volume quite high above normal.
The price of green coffee beans in the Central Highlands market increased from 1,000 to 1,200 VND, to range from 39,600 to 40,200 VND/kg.
Although three rounds of negotiations have passed, the war in Eastern Europe has shown no sign of abating and Russian troops continue to tighten the siege around the capital Kiev. USDX, securities, raw material commodity floors increased and decreased erratically according to the sound of bombs and bullets resounding everywhere. Gold, crude oil and coffee are three highly liquid commodity exchanges often used by speculators to move capital on a daily basis. While concerns about growing global inflation will be the top concern at monetary policy sessions next week.
However, the New York Stock Exchange eased the supply shortage concern when it reported that inventories had risen above the psychological threshold, while new-season coffee shipments from Latin American producing countries remained unchanged. continue to flow to the floor. On the contrary, the new crop output from some main Robusta producing countries which has not yet been harvested and brought to the floor for additional registration has supported London prices to stand firm in the short and medium term..
Inventories of Robusta coffee, which are certified and monitored by the London floor, as of Monday, March 7th, have decreased by 570 tons, or 0.62% lower than a week earlier, to registered at 91,470 tons. equivalent to 1,524,500 bags, 60 kg bags). This has also helped support coffee futures prices in London back to the uptrend in the past week.
English (giacaphe.com)
