Coffee prices continued the recovery on both exchanges, but London speculation was still cautious despite the support from New York.…
Robusta chart London July 2021 session on May 26, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to recover. Futures for delivery in July increased by 15 USD, to 1,503 USD/ton and for September delivery increased by 14 USD, to 1,526 USD/ton, a significant increase. Trading volume remain below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also continued to recover. July spot futures added 5.20 cents to 155.7 cents/lb and September futures also added 5.20 cents to 157.65 cents/lb, very strong gains. Trading volume quite high above mbreast medium.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 dong, ranging from 32,900 to 33,500 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,546 USD/ton, FOB – HCM, with a plus difference at 20 USD/ton according to September futures prices in London.
The Reais rose 0.46%, the rate rose to 1 USD = 5,3120 Reais due to the appreciation of emerging currencies as global inflation concerns seem to have subsided, while the affirmation The Fed and EU will keep interest rates steady, which has attracted speculation back into the commodity markets in general.
Coffee prices continued to recover on both exchanges, but speculation in London was still cautious despite pulling support from New York. This is not too difficult to understand when most international forecasts confirm that this year’s Brazilian Arabica crop has suffered a serious loss, while the Conilon Robusta crop has increased significantly.
According to observers, the price resistance in Vietnam’s domestic market is still quite strong, while the coffee crop year 2020/2021 has only 4 months of exports left. USDA forecasts that the inventory carried into the new crop year 2021/2022 is estimated at 7.23 million bags of Robusta, because Vietnam’s exports are quite slow due to the decline in global consumption and high sea freight rates during the pandemic season.
English (giacaphe.com)
