Summary of the coffee market week 31 (August 1, 2022 – August 6, 2022)

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Coffee prices are mixed as options expires nearing in New York this weekend and in London next weekend…

Robusta London chart September 2022, week 31 (from August 1, 2022 to August 6, 2022)

For the whole week of 31, the London market had 2 increasing sessions and 3 decreasing sessions. The price of Robusta coffee for September delivery increased by all 13 USD, or 0.64%, to 2,043 USD/ton and for November delivery increased all 14 USD, or 0.69%, to 2,042 USD. /ton, slight increases. Trading volume above average.

On the contrary, the New York market also had 3 decreasing sessions and 2 increasing sessions. The price of Arabica coffee for September delivery fell all 7.75 cents, or 3.57%, to 209.45 cents/lb, and December delivery fell all of 7.40 cents, or 3.0%. 46 %, to 206.40 cents/lb, sharp declines. Trading volume very above average.

The price of green coffee beans in the Central Highlands market increased by 400-500 dong, up to range from 41,000 to 41,600 dong/kg.

Coffee prices have been mixed over the past week, falling sharply in New York as sales of the new crop from top producer Brazil are currently harvesting when the reais is in favor and slightly increased in London on the news. Inventories at the floor decreased continuously while the demand for cheap coffee increased due to low income and high inflation.

The highlight of the week was the US Department of Labor’s jobs report (payroll) with positive results that far exceeded expectations, raising doubts that the US economy really did not have a recession to the extent that the market feared and this. will lead to the possibility US Federal Reserve (Fed) ready to be strong in the upcoming USD base rate hike to quickly push back inflation.

National Coffee Federation (FNC) in Colombia reported production and exports in July decreased by approximately 20% compared to the same period last year due to unfavorable weather However, because traders bringing coffee to New York registered for auction in modest volume. Therefore, the report of FNC – Colombia is not expected to have a significant impact on this floor futures price.

The mixed coffee futures price was also due to the balance of funds and speculation, liquidation of net positions before the expiry of September futures contracts at the end of next week on the Arabica coffee floor with a large net buying volume. and Robusta exchange will expire at the end of next week with relative net buying volume.

As of Tuesday, August 2, the inventory of Robusta coffee certified and monitored by the London floor has decreased by 517 tons, or 0.48% compared to a week earlier, to record inventories at the level. 102,290 tons (equivalent to 1,704,833 bags, 60 kg bags).

English (giacaphe.com)

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