Vietnam’s coffee exports in December increased sharply compared to the previous month, contributing to the pressure already weighing on the London futures market…
Robusta London chart March 2022, week 02 (from January 10, 2022 to January 15, 2022)
For the whole week 2, London market had 3 decreasing sessions and 2 increasing sessions. The price of Robusta coffee for spot delivery in March fell by all of $88, or 3.80%, to $2,228 per ton, and for May delivery fell all of $72, or 3.18%, to $2,194 /ton, sharp declines. Trading volume on average.
On the contrary, the New York market had 3 increasing sessions and 2 decreasing sessions. The price of Arabica coffee for March delivery increased all of 1.20 cents, or 0.50 percent, to 239.65 cents/lb, and for May delivery, all rose 1.25 cents, or 0. 52 percent, to 239.55 cents/lb, significant gains. Trading volume very high above normal.
The price of green coffee beans in the Central Highlands market decreased by 600 – 700 VND, to fluctuate in the range of 40,700 – 41,100 VND/kg.
Pressure remains on the world coffee futures markets.
With New York, the issue investors care about is when the Fed will start raising the basic interest rate in USD to actively adjust the portfolio, while the Fed’s position is clear. Therefore, many investors have cautiously moved capital flows looking for a safe place and therefore, the price of Arabica coffee has benefited.
On the contrary, the price of Robusta coffee in London market continued to weaken because the speculative net buying position was too high, while this market also had a negative impact from the Vietnam export report in December. increased by 57.6% compared to the previous month.
Today, Monday 1st January, New York market is on holiday Martin Luther King, no open the door. The London market trades normally.
BBT (giacaphe.com)
