May Arabica coffee traded on Friday closed up 5.75 cents/pound and Robusta coffee closed down $22 at $3,744/ton.
Coffee price today April 6, 2024 decreased slightly -100 VND/kg to fluctuate in the range of 102,000 to 102,700 VND/kg
Both markets continued a mixed trading session, with Arabica coffee ending at a new high over the past 5 months.
Inventories of certified graded Arabica coffee held in the New York Arabica market are said to have increased by 11,535 bags yesterday, taking the total inventory to 628,217 bags.
The New York market has continued to be stronger in recent times with very large trading volume during the session, reaching more than 45 thousand lots with the technical target mentioned in previous news being about 215 cents/pound. Calculated based on May prices.
Meanwhile, the London market has fully shown technical signals that it will retreat after a long period of hot growth. Technical forecasts say that it is likely that the Robusta market will return to a struggle at $3,550/ton based on May prices. This withdrawal, if it occurs, will be purely technical and not is a decline in the value of this commodity because unfavorable weather and crop problems for Robusta in the main producing countries cannot be resolved overnight.
Please be reminded that the above information can only be used for reference in buying and selling on the exchange, because real Robusta goods in some countries are still very difficult to buy once sold, unlike the high liquidity on the exchange. pandemic.
It is expected that in the near future we will continue to witness opposite directions on the floor, when Arabica is increasing while Robusta is technically trending down.
Kinh Vu (Giacaphe.com)
