The price of coffee futures is adjusted according to the balance of net positions of the Funds and speculation against the pressure of monetary interest rates to continue to increase at the end of the year…
For the whole week of 50, the London coffee market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for January delivery increased all by $49, or 2.60 percent, to $1,933 per ton, and for March delivery increased by all of $2, or 0.11 percent, to $1,866. /ton, slight increases. Trading volume is above average.
In contrast, the New York coffee market had 4 up sessions and 1 down session. The price of Arabica coffee for March delivery increased all of 6.25 cents, or 3.95%, to 164.40 cents/lb, and for May delivery, it increased by all 5.65 cents, or 3. .55 %, to 164.60 cents/lb, fairly strong gains. Trading volume remained above average.
The price of green coffee beans in the Central Highlands market increased from 0 to 100 dong, to range from 41,100 to 41,600 dong/kg.
The highlight of the week was the news that the Federal Reserve (Fed – US) announced to raise interest rates by 0.5% at the final monetary management meeting of 2022 and along with that, major central banks in the world. gender . However, the market was not surprised by having speculated on previous economic data reports. USDX continued weakness has supported emerging currencies to regain value and boosted purchasing power in general, after funds and speculators on two coffee derivatives exchanges reduced their net short positions to move to the previous net long position.
The volume of Arabica coffee continues to flow into ICE warehouses registered for Certificates of Pending Auction after touching a 24-year low, while Cecafé – Brazil reported that November bean exports have reached 3.40 million bags, up 19.21% over the same period last year, including 3.30 million bags of Arabica coffee, up 25.49% and 98,955 bags of Conilon Robusta coffee, down 55.27% over the same period.
According to observers, Vietnam has now harvested nearly 70% of the output of the new Robusta crop with a forecasted decline of about 10% compared to the previous crop and sales pressure before the Christmas and New Year 2023 holidays is increasing. get a raise.
As of Monday, December 12, inventories of Robusta coffee certified and tracked by the London floor have decreased by another 3,370 tons, or 4.33% from a week earlier, to registered at 74,480 tons (equivalent to 1,241,333 bags, 60 kg bags).
See more: What is the scenario for coffee prices in 2023?
English (giacaphe.com)
