According to analysts, coffee futures prices fell due to liquidation pressure, but this only happened in the short term.
Robusta chart London July 2021 session on 12/05/2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. Futures for spot delivery in July decreased by 18 USD to 1,514 USD/ton and for September delivery decreased by 19 USD to 1,537 USD/ton, significant reductions. Trading volume remain below average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. The July spot futures fell 3.6 cents to 146.5 cents/lb and the September futures fell 3.55 cents to 148.45 cents/lb, sharp declines. Trading volume maintained quite high above mbreast medium.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 dong, down to range from 33,800 to 34,200 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,557 USD/ton, FOB – HCM, with a plus difference at 20 USD/ton according to September futures prices in London.
The Reais fell 1.56%, the exchange rate fell to 1 USD = 5.3060 Reais as concerns about higher-than-expected US inflation forced the Fed to review monetary policy, causing USDX and long-term bond yields U.S. Treasuries bounced back, while U.S. stocks and dollar-denominated commodities tumbled.
Coffee price reversed down due to short-term profit-taking speculation while buying funds were cautiously waiting for news of the new Brazilian crop to be more specific.
The Coffee Exporters Association (Cecafé) in Brazil announced that coffee exports in April reached 3.3 million bags of coffee of all kinds, down 8.5% compared to the same period last year, but brought exports The first 10 months of the current coffee crop year 2020/2021 totaled 3.9 million bags, an increase of 16.6% compared to the same period in the previous coffee crop 2019/2020. This contributes to affirming Cecafé’s commitment to fully meet the needs of the consumer market.
Vietnam Customs reports April data showing that coffee exports for the month reached 132,111 tonnes (equivalent to 2.2 million bags, 60 kg bags), down 20.92% year-on-year but still higher The initial export estimate was 1.83 million bags.
. English (giacaphe.com)
