Coffee futures markets in the world reversing and decreasing after a chain of hot increases when entering the “overbought” area is not unexpected …
Robusta London T7 / 2021 chart session on April 29, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London reversed and decreased. July delivery term fell 16 USD, down to 1,452 USD / ton, September delivery term dropped 14 USD, to 1,475 USD / ton, the significant decrease. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. July spot futures decreased by 2.85 cents, down 143 cents / lb and futures for September delivery fell 2.9 cents, to 144.9 cents / lb, the decline is quite strong. Trading volume maintain on mGermany medium.
The price of green coffee in the Central Highlands provinces decreased by 200-300 VND, down to fluctuating in the frame of 33,200 – 33,700 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,502 USD / ton, FOB – HCM, with the plus difference at 40-50 USD / ton in terms of July futures in London.
Reais rose 0.46% higher, the rate rose at 1 USD = 5.3350 Reais, repeated the high of 2/2, after a session of trying to raise the rate to attract foreign investors. External market correction to the prospect that the Fed will pump more money into the US economy.
Coffee prices reversed and fell not surprisingly as both derivative exchanges entered the buying zone “exceed” need adjustment, combined with short-term profit-taking investors after a hot rally. According to observers, coffee markets need a few more corrective sessions when the disadvantage is still on the side of New York coffee. While Arabica Brasil coffee output this year decreased significantly not only due to drought at the beginning of the crop but also falling in a cyclical year. “Two years one”.
The General Statistics Office of Vietnam estimated that coffee exports in April reached about 110,000 tons, down 35.15% from the previous month, bringing exports in the first four months of 2021 to a total of 563,000 tons (about 9,383,500 tons). bags), down 17.54% over the same period last year.
English (giacaphe.com)
