Although the news that a large hedge fund had to sell off investments has affected many banks to shake the global market, it is mainly that the Reais exchange rate is currently at a favorable level for Brazil to be strong. selling coffee …
Robusta London T5 / 2021 chart session on March 30, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London continued to fall deeply. May spot futures decreased by 28 USD, down to 1,348 USD / ton and futures for July delivery decreased by 24 USD, to 1,373 USD / ton, the decline was quite strong. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor continued to fall deeply. May spot futures dropped another 4.45 cents, down 122.6 cents / lb and July futures dropped another 4.4 cents, to 124.65 cents / lb, the decline is very strong. Trading volume very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 400-500 VND, down fluctuating in the frame of 31,800 – 32,300 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,433 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose slightly 0.15%, rate at 1 USD = 5.7580 Reais, after optimism from Brazil changing a series of new ministers, while the long-term US Treasury bond yields soared during the period. Expectations about rising inflationary pressure make risks accrue to emerging markets.
The price of coffee on two floors fell sharply because the USD continued to strengthen, making most of the goods paid in green silver become expensive, along with the information that banks forced the Archegos hedge fund to sell off investments. accumulated investment worth billions of dollars due to not really transparent business methods, leading to the ranking from stable to negative, the Credit Suisse Group made this bank face a loss of billions of dollars and many banks. Affected goods follow to wobble the global market.
The global coffee market continues to worry about the third outbreak of covid-19, which causes consumption to decline as many restaurants and cafes have to implement an increasingly expanding social gap, while Brazilians are still Sell strongly because the Reais exchange rate is currently at a favorable level and they will earn more local currency.
English (giacaphe.com)
