Rains in Brazil’s main coffee growing regions are said to be the cause of the continuous decline in coffee futures prices…
At the end of the first trading session of the week, Robusta coffee prices on the ICE Europe – London floor dropped for the fifth consecutive session. January delivery futures decreased another 69 USD, to 2,314 USD/ton and March delivery futures decreased another 65 USD, to 2,290 USD/ton, sharp drops. Trading volume is very high above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has a continuous decreasing trend. December delivery futures decreased another 1.85 cents, to 159.10 cents/lb and March 2024 delivery futures decreased another 2.20 cents, to 158.30 cents/lb, very significant decreases. Trading volume is very high above average.
The price of green coffee in the Central Highlands provinces decreased by 1,000 – 1,100 VND, fluctuating in the range of 57,700 – 58,300 VND/kg.
Good rains in the main coffee growing regions in southern Brazil are the reason for funds and speculation to increase net selling on both coffee futures exchanges.
US stocks regained positivity right before the Fed’s 2-day meeting showing signs of toughness began today. The Reais exchange rate decreased by 0.68% to 1 USD = 5.0468 R$, encouraging the sale of export coffee. Coffee prices in the Brazilian domestic market also decreased according to each main sales area.
English (giacaphe.com)
