Today the funding package worth 1.9 trillion USD was officially discussed by the US Congress at the same time with the impeachment of former President D. Trump …
Robusta London Tuesday / 2021 chart session on February 8, 2021
Ending the first session of the week, Robusta coffee prices on ICE Europe – London continued to adjust. Futures for delivery in March decreased by 5 USD, down to 1,335 USD / ton and futures for May delivery decreased by 3 USD, to 1,356 USD / ton. Trading volume in mmedium breast.
Similarly, Arabica coffee prices on the ICE US – New York floor fell. Futures for delivery in March decreased 0.4 cents, down 124.1 cents / lb and futures for May delivery also fell 0.4 cents, to 126.25 cents / lb, the slight decrease. Trading volume maintained very cpond above average.
The price of coffee beans in the Central Highlands provinces decreased by 100 VND, down to fluctuating in the frame 31,400 – 32,000 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,436 USD / ton, FOB – HCM, with the difference plus 70-80 USD / ton in term of May in London.
Reais copper rose slightly 0.22% to $ 1 = 5,3720 Reais as foreign investors reacted to the progress of political reform and optimism ahead of the carnival this year. Meanwhile, USDX continues to put pressure on emerging currencies on the expectation that the White House will approve the funding package. “giant” even though there are still concerns about rising public debt.
The fall in Arabica coffee prices when there is a report of rainy weather in Minas Gerais, Brazil’s largest Arabica coffee growing state, will support the development of a new favorable crop. Meanwhile, Mr. Silas Brasileiro, chairman of the National Coffee Council (CNN), said that although output this year declined, Brazil still has enough coffee to supply traditional consumer markets and 2022 output. will be back to normal, according to the news of Dow Jones in São Paulo.
At the same time, the data reported by the Vietnam Customs showed that coffee exports in January reached 160,615 tons (equivalent to 2,676,900 bags), up 10.69% over the same period last year, significantly higher than The initial forecast was only about 2 million bags. Although this report caused London speculators to lose their buying, but the pressure to expire March options has just begun, so the correction of speculative positions in the coming days will support investors. Short-term.
Transactions in the Vietnamese market were less active as the long holiday to celebrate the Lunar New Year was approaching, many local coffee buying agents closed earlier than previous years.
English (giacaphe.com)
