The forecast of frost in Brazil has caused the price of Arabica coffee on the New York floor to skyrocket, but speculators on the London floor are still more cautious…
Robusta London chart September 2021 week 28 (from 12/07/2021 – 17/07/2021)
For the whole week of 28, the London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for September delivery increased by all of 23 USD, or 1.32%, to 1,767 USD/ton and for November delivery increased by all 34 USD, or 1.97% increase, to 1,756 USD. /ton, the increases are very significant. Trading volume on average. London floor coffee prices continue to maintain inverse structure.
Meanwhile, the New York market had 4 increasing sessions and 1 decreasing session. The price of Arabica coffee for September delivery increased all 9.85 cents, or 6.50 percent, to 161.35 cents/lb and December delivery increased by all 9.75 cents, or 5. 94%, to 164.10 cents/lb, very strong gains. Trading volume very above average.
The price of green coffee beans in the Central Highlands market increased by 100-200 VND, up to range from 36,100 to 36,800 VND/kg.
The price of Arabica coffee is speculative on the New York Stock Exchange when there is a forecast of frosty weather in the main producing states in southern Brazil on the upcoming 2 days of July 20 and 21. Despite the Brazilians increasing sales the new crop is now harvesting and USDX is strong again.
Meanwhile, Robusta coffee prices continue to fluctuate cautiously on the possibility that the European Central Bank (ECB) may cut some economic stimulus measures due to inflation concerns when consumer prices in June. of the Eurozone rose by 1.9% year-on-year, after having risen 2% in May. This is also a factor restraining the upward momentum, although the supply slowdown from the major Robusta producing countries, due to logistics problems and high sea freight rates, has contributed to the inverse price structure in Vietnam. London to attract merchants to bring goods to register for auction.
Speculators in the two coffee futures markets will closely monitor the frost weather in Brazil in the first two days of the week (July 20 + 21), as this issue will determine the direction of coffee prices. in the next week.
As of Monday 12/07, inventories of Robusta coffee certified by the London floor have decreased by 1,810 tons, or 1.21% compared to a week earlier, to registered at 147,320 tons (equivalent to 2,455,333 bags, bags of 60 kg).
English (giacaphe.com)
