Speculation on the New York floor returned to increase buying as speculated because there was still concern about a decrease in Brazilian output this year…
Robusta chart London July 2021 session on May 17, 2021
At the end of the first session of the week, the price of Robusta coffee on the ICE Europe – London floor adjusted down. Futures for spot delivery in July decreased by 1 USD to 1,459 USD/ton and for September delivery decreased by 2 USD to 1,484 USD/ton, slight decreases. Trading volume remain average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. July spot futures rose 0.75 cents to 145.75 cents/lb and September futures rose 0.8 cents to 147.75 cents/lb, slight gains. Trading volume in mbreast medium.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 32,700 – 33,200 VND/kg.
Export price of Robusta coffee grade 2.5% black broken, stood at 1,504 USD/ton, FOB – HCM, with a plus difference at 20 USD/ton according to September futures prices in London.
The reais rose 0.18%, the exchange rate rose to 1 USD = 5,2620 reais as the outside market was still concerned about the risk of rapid inflation, while US stocks dropped again in the correction of most general markets.
Robusta coffee prices corrected lower following the report that certified inventories in London rose to a 6-month high. While the price of Arabica coffee recovered slightly due to speculation New York returned to increase buying as speculated due to concerns about a decrease in Brazilian output this year.
Conab Brasil reports that this year’s crop of Arabica coffee production has decreased by about 21 – 30% due to the cycle “every two years” and adverse weather at the beginning of the crop. The weather report for the next 15 days will see scattered light rain and no sign of frost weather although cold air has begun to move further inland. .
English (giacaphe.com)
