The inventory report at the two exchanges continued to decline, maintaining the inverse price structure to attract speculation to bring goods to participate in auction…
Robusta London chart March 2022, week 51 (from December 20, 2021 to December 25, 2021)
For the whole week 51, the London market had 3 increasing sessions and 1 decreasing session. The price of Robusta coffee for spot delivery in March increased by all 20 USD, or 0.86%, to 2,353 USD/ton and for May delivery increased by all 13 USD, or 0.57 %, to 2,301 USD. /ton , slight increases. Trading volume on average.
On the contrary, the New York market had 2 decreasing sessions and 2 increasing sessions. The price of Arabica coffee for March delivery fell all of 3.55 cents, or 1.51%, to 231.20 cents/lb and for May delivery fell all of 3.75 cents, or 1. 60%, to 231.10 cents/lb, very significant reductions. Trading volume remain above average.
The price of green coffee beans in the Central Highlands market increased by 100-200 VND, fluctuated in the range of 42,300 – 42,800 VND/kg.
Arabica coffee prices fell again after Conab – Brazil reported the results of the fourth and final crop survey of 2021. Accordingly, Conab adjusted the total Brazilian coffee production in 2021 by 0. 8 million bags increased to 47.7 million bags, of which Arabica increased 0.7 million bags to 31.4 million bags and Conilon Robusta increased 0.2 million bags to a record 16.3 million bags compared to the previous forecast. September.
Traditionally, Conab’s report is often considered to be about 6 – 10 % below actual production, so this upward adjustment proves that Brazil’s coffee production is not seriously short because of the prolonged drought from The beginning of the year and the damaging frosts of July. The drop in export volumes from Brazil in recent months can be attributed to logistics problems and also to rumors that Brazilian farmers are refusing to deliver because of the increase in New York prices. high, causing them to lose money because they signed a contract to sell at the previous low price range.
On the contrary, the price of Robusta coffee still maintained an uptrend thanks to supportive fundamentals, notably the report of a decrease in exports from the two major Robusta producing countries in Southeast Asia and an inverse price structure. The island is still maintained on the London floor to attract speculation to bring coffee to the floor to participate in auction.
Adverse weather and prolonged epidemics have delayed the harvest of the new crop in the Central Highlands coffee region of Vietnam for a few more weeks. This also slows down the supply of new crops to the consumer market, which will help support London futures prices to remain high in the first month of 2022.
Notify: Today, Monday, December 27, London market is closed for Boxing Day, no trading. The New York market opens late, after 19:30.
English (giacaphe.com)
