The world financial market continues to expect the House of Representatives to vote through the US government’s $ 1.9 trillion funding package after it was adjusted and modified by the Senate …
Robusta London chart May / 2021 session on March 8, 2021
Ending the first session of the week, Robusta coffee prices on the ICE Europe – London floor extended the chain to the seventh session. May spot futures dropped another 20 USD, down to 1,361 USD / ton and July futures dropped another 18 USD, to 1,382 USD / ton, the significant reductions. Trading volume above average.
In contrast, Arabica coffee prices on the ICE US – New York floor increased. Futures for May delivery increased 0.3 cents, to 129.15 cents / lb and July futures also increased by 0.3 cents, to 131.15 cents / lb, the slight increase. Trading volume quite high above mGermany medium.
The price of green coffee in the Central Highlands provinces decreased by 100-200 VND, down to fluctuate in the frame 31,600 – 32,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,442 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper plunged 1.67%, to $ 1 = 5.7770 Reais, the lowest level since May 15, 2020, due to stress from the decision to sell criminal sentences and restore political rights. For former President Lula da Silva, in the economic context of Brazil, there are still many concerns due to the shortage of vaccines. Meanwhile, the long-term interest rates of US Treasury bonds increased sharply, further accelerating inflation and potentially forced the Fed to reconsider the issue of USD interest rates.
Coffee futures prices were mixed, while Robusta London continued to weaken due to the tensions post-Brexit and the European economy is still strained because of the covid-19 pandemic, Arabica coffee prices in New York are still a bit optimistic when the new US government funding package was revised by the Senate on the weekend and has likely to be voted on by the House of Representatives today (March 9).
Although leading UK consultant Marex Spectron raised its forecast for global coffee shortages for 2021/2022 to 10.7 million bags, from an earlier forecast of 8 million bags due to Brazil. suffered from dry weather early in the season, but the continued decline of Reais’ copper could not prevent them from boosting export coffee sales.
English (giacaphe.com)
