The coffee markets were mixed at the end of the session despite a significant recovery earlier…
Robusta chart London July 2021 session on May 20, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to decline. Futures for spot delivery in July decreased by 12 USD to 1,490 USD/ton and for September delivery decreased by 13 USD to 1,515 USD/ton, significant reductions. Trading volume on average.
In contrast, the price of Arabica coffee on the ICE US floor – New York was almost unchanged. July spot futures remained at 150.95 cents/lb and September futures rose 0.05 cents to 152.95 cents/lb, extremely slight gains. Trading volume in mbreast medium.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 VND, down to the range of 32,900 – 33,300 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,535 USD/ton, FOB – HCM, with a plus difference at 20 USD/ton according to September futures prices in London.
The reais rose 0.73% to $1 = 5,2760 reais as the value of emerging currencies increased on investment sentiment, after the release of the minutes of the Fed’s April meeting sent markets across the world. Demand tends to correct technical currency in general. USDX’s continued weakness helped tech stocks recover. It seems that the digital currency is trying to regain what it lost in the previous session when the Fed hinted that it could issue its own digital currency.
Robusta coffee prices continued to weaken after a report that inventories on the London floor increased rapidly, causing most investors to remain outside the market.
Meanwhile, Arabica coffee prices continue to move cautiously with the forecast of a decrease in Brazilian production this year by 1.05%, to 56.5 million bags by consultant – analyst Safras & Mercados.
English (giacaphe.com)
