It seems that the New US President has taken measures to approve a funding package worth 1.9 trillion USD, helping US stocks to continue to rise and also increase optimism in most markets …
Robusta London Tuesday / 2021 chart session on February 5, 2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London were adjusted slightly. Futures for delivery in March decreased 3 USD, to 1,340 USD / ton and futures for delivery in May remained unchanged at USD 1,359 / ton. Trading volume in mmedium breast.
Similarly, Arabica coffee prices on the ICE US – New York floor increased. Futures for March delivery increased 0.45 cents, to 124.5 cents / lb and May futures increased 0.5 cents, to 126.65 cents / lb, the increases are very light. Trading volume maintained very cpond above average.
The price of coffee beans in the Central Highlands provinces has not changed, still fluctuating in the frame 31,500 – 32,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,439 USD / ton, FOB – HCM, with a difference plus 70-80 USD / ton in term of May in London.
Reais copper surged 1.19%, to $ 1 = 5,3840 Reais due to the general optimism of the coronavirus preventive vaccine market and the stock exchanges regaining their green color.
The slight adjustment of Robusta coffee price in the last session of the week is commonplace due to the adjustment and balance of the position of speculators. While the price of Arbica coffee has added support from the Reais Brasil copper strengthened and the production and export report for January 2021 of Colombia.
According to the National Federation of Coffee Growers (FNC) in Colombia, coffee production in January reached 1,081,000 bags, an increase of 2.95% and exports reached 1,102,000 bags, an increase of 3.47% over in the same period last year. However, the cumulative output in the first four months of the current crop year 2020/2021 only totals 5,426,000 bags, down 3.19% and exports totaling 4,714,000 bags, down 2.28% compared to The first 4 months of the crop year 2019/2020 previously.
English (giacaphe.com)
