Speculation has “Sell London, buy New York” to balance and adjust positions at the expiration of the May option contract is coming.
Robusta London T5 / 2021 chart session on April 15, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London decreased. May spot futures fell $ 2, down $ 1,363 / ton and July futures also dropped $ 2, to $ 1,389 / ton, slight decreases. Trading volume in average.
In contrast, Arabica coffee prices on the ICE US – New York floor have for the fourth consecutive session. May spot futures increased 0.6 cents, to 132.7 cents / lb and July futures increased by 0.65 cents, to 134.7 cents / lb, the significant increases. Trading volume maintained very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 0-100 VND, down to fluctuating in the frame of 32,000 – 32,600 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,449 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 0.74%, the rate rose at 1 USD = 5.6270 Reais on external risk sentiment after a sharp drop in long-term US Treasury interest rates, while stocks were on Wall Street. surpassing 34,000 points for the first time, showing that the US economy is recovering strongly.
Coffee prices were mixed in a speculative session “Sell London, buy New York” To balance and adjust positions before the expiration of the May option contract is coming. While the price of Arabica coffee also had more support from Reais copper, which pushed Brazilians to decrease selling and the market continued to show concern about the supply of the new crop 2021/2022.
It seems that the lack of drastic reaction in member countries has caused the Eurozone economy to face serious short-term risks and slow-motion vaccinations in style. “Old continent” prompted the International Monetary Fund (IMF) to make a recommendation.
. English (giacaphe.com)
