The increase in long-term US Treasury bond yields pushed inflation expectations to a high level and emerging currencies were at a disadvantage, causing the purchasing power of goods to slow …
Robusta London T5 / 2021 chart session on March 4, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London dropped for the fourth consecutive session. May spot futures fell by 24 USD, down to 1,426 USD / ton and July futures also dropped by 24 USD, to 1,446 USD / ton, the decline is very significant. Trading volume quite high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also fell for the fourth consecutive session. May spot futures decreased 1.05 cents, down 132.8 cents / lb and July futures also dropped 1.05 cents, to 134.75 cents / lb, the significant reductions. Trading volume on mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 400-500 VND, down fluctuating in the frame of 32,200 – 32,700 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,506 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais rose slightly 0.08%, to 1 USD = 5.6620 Reais on a day of volatile currency rates, with interest rates on US Treasury bonds increased, further negative impact on money emerging currency. Although the Reais gained value when the Federal Congress insisted there was no risk any to the ceiling spending and there were no exceptions, it could not prevent the increase in export sales as the prices of agricultural products. previous deep drop.
Coffee prices on both exchanges continued to decline as USDX continued to strengthen, detrimental to emerging currencies and more expensive commodity prices, which made most investors hesitant to buy, further reducing prices.
English (giacaphe.com)
