The basic interest rate of Reais copper was higher than expected, which pushed Brazilians to sell agricultural products strongly, making futures prices continue to decline.
Robusta London T5 / 2021 chart session on March 19, 2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London continued to decline. May spot futures fell 6 USD, down 1,380 USD / ton and July futures dropped 7 USD, to 1,404 USD / ton, the significant decreases. Trading volume in average.
Similarly, Arabica coffee prices on the ICE US – New York floor had the third consecutive session of declines. May spot futures dropped another 0.95 cents, down 129 cents / lb and July futures dropped another 0.9 cents, to 131.05 cents / lb, the significant reductions. Trading volume maintained on 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 – 32,500 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,464 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 1.47%, to $ 1 = 5,4850 Reais, the highest level since February 25, after optimism about the government’s decision to increase vaccine purchase and the Central Bank (BC). Raising the Reais Copper Base Rate from 2% to 2.75%, well above market expectations, as U.S. Treasury bond long-term yields continue to soar, sending emerging currencies. into a disadvantage that causes the purchasing power of goods to slow down.
Coffee futures prices continued to decline when the Arabica coffee growing regions in southeastern Brazil were reported to have abundant rain, which was a good support for new coffee growing crops, while Conilon Robusta coffee regions. about to start a new harvest in a few weeks.
Meanwhile, coffee farmers in the Central Highlands seem to have turned their attention to London speculators to turn their attention to pepper intercropped, because the price of this agricultural product in Vietnam is heating up day by day.
English (giacaphe.com)
