Update Coffee Price Today March 13th, 2023

 UPDATE COFFEE PRICE TODAY

March 13th, 2023

Ending last week's trading session, the price of Robusta coffee in London delivered in May 2023 decreased by 28 USD/ton at 2,140 USD/ton, delivered in July 2023 decreased by 26 USD/ton at 2,131 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 2.75 cents/lb, at 177.8 cents/lb, delivered in July 2023 increased by 2.5 cents/lb, at 177 ,1 cent/lb.

Summarizing the past week, the price of Robusta coffee for May delivery fell all of 22 USD (1.02%), and for July delivery fell all 19 USD (0.88%), slight declines.

Similarly, May spot Arabica coffee prices fell all of 0.05 cents (0.28%), and July delivery fell all of 0.10 cents (0.06%), lowers very light.

Gold and crude oil prices rose last week, while coffee fell. Inventories of Arabica standards decreased while Robusta increased by nearly 1,000 tons compared to the previous week. This helps coffee on the New York floor drop slightly than on the London floor.

From a trading position, the London floor is overbought, so it may fall further this week. The price of Arabica is more difficult to predict.

The expert also said that the US just witnessed the second largest bank failure in the history of the country - Silicon Valley Bank (SVB) - within 48 hours.

In that context, the trading session on March 13 will clearly reflect the psychology of market participants. In the next 2 weeks, commodity prices will fluctuate strongly.

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