Despite negative technical signals, coffee futures markets continued to recover when there was a weak support of USDX and a decline in US stocks …
Robusta London T5 / 2021 chart session on April 20, 2021
Ending the session, Robusta coffee prices on ICE Europe – London continued to recover. May spot futures increased by 12 USD, to 1,369 USD / ton and July futures increased by 13 USD, to 1,398 USD / ton, the significant increases. Trading volume very high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also tend to increase. May spot futures increased 2.6 cents, to 132.45 cents / lb and July futures increased by 2.55 cents, to 134.45 cents / lb, the increases are very significant. Trading volume maintained very high above mbrisket medium.
The price of coffee beans in the Central Highlands provinces increased by 200-300 VND, up fluctuating in the frame of 32,200 – 32,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,458 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose slightly 0.10%, exchange rate to 1 USD = 5.5470 Reais, rose for the sixth consecutive session as emerging countries’ currencies recovered in value against USD and home expectations. budget investment in 2021.
World coffee futures prices continued to recover thanks to the increase in general commodity purchases of emerging markets in the context of weaker USDX and speculative capital inflows continuing to leave the stock markets.
Despite the negative signals from technical analysis and bearish speculation, especially the large speculators still holding a significant amount of open positions that need to be liquidated before the option expiration date, an increase in buy on both. Coffee futures floor at this time confirmed the market was more concerned about the new crop production decline in Brazil and forecast global supply will turn to a shortage in the new coffee crop 2021/2022 coming. .
Vietnam Customs reported preliminary data showed that coffee exports in the first half of April reached 55,847 tons (about 930,780 bags, 60 kg bags), down 32.35% over the same period last year, bringing coffee exports. coffee in the first 3.5 months of 2021 reached a total of 508,855 tons (about 8.84 million bags), a decrease of 15.12% compared to the export in the first 3.5 months of 2020.
English (giacaphe.com)
