Reuters making speculations about the decrease in the number of Arabica coffee stocks managed by ICE is just manipulation “storage island” in order to re-check the quality, while coffee in the outside market is currently at a very high price…
Robusta London chart 11/2022 week 33 (from August 15, 2022 – August 20, 2022)
For the whole week 33, the London market had 2 gaining sessions and 3 decreasing sessions in the middle of the week. The price of Robusta coffee for September delivery fell all of $26, or 1.15%, to $2,226/ton and November delivery fell all of $35, or 1.55%, to $2,226. /ton, the reductions are very significant. Trading volume above average.
Similarly, the New York market also had 4 consecutive decreasing sessions and 1 increasing session at the end of the week. The price of Arabica coffee for September delivery fell all of 10.65 cents, or 4.70 percent, to 215.95 cents/lb and December delivery fell all of 9.05 cents, or 4.0 percent. 07 %, to 213.35 cents/lb, sharp declines. Trading volume quite above average.
The price of green coffee beans in the Central Highlands market decreased by 500-600 dong, to range from 47,700 to 48,200 dong/kg.
Highlight of the week is the report of Coffee Bean Association (GCA) said inventories in North America increased by 173,201 bags, or 2.86% in July, to register at 6,223,285 bags, a 20-month high. It is estimated that this inventory will cover the roasting needs of North America for more than 12.5 weeks, a number that is considered quite safe.
The market also discussed the number of Arabica coffee stocks managed by ICE falling to a 23-year low. Follow Reutersthis is just a technical operation “storage island” In order to re-check the quality of the long-term inventory released from the warehouse, the number of registrations waiting for re-evaluation skyrocketed to more than 200,000 bags. Where are the goods coming out at this time to bring to the floor waiting for the Certificate to be so much (?), while the price of coffee in the outside market is currently sky-high.
Another highlight is the report that Robusta inventories in London decreased continuously to less than 100,000 tons, while traders were not interested in bringing Robusta coffee from Vietnam and Conilon from Brazil to the auction registration floor because goods Coffee in the world’s two largest domestic markets is currently very difficult to buy.
There are many different speculations in the world financial markets about the possibility that the Fed will raise the basic USD interest rate at the next session by 0.5% – 0.75% or 1%, while there are still opinions that US inflation has not yet reached its peak.
As of Monday, August 15, the inventory of Robusta coffee certified and tracked by the London floor has decreased by 1,910 tons, or 1.91% less than a week earlier, to record inventories at the level. 98,180 tons (equivalent to 1,636,334 bags, 60 kg bags).
English (giacaphe.com)
