Two-floor coffee prices returned to short-term uptrend due to concerns about a drop in Brazil’s new crop output this year …
Robusta London T7 / 2021 chart session on May 11, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London rose again. July spot futures increased by 14 USD, to 1,532 USD / ton and futures for September delivery also increased by 14 USD, to 1,556 USD / ton, the very significant increases. Trading volume below average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. July spot futures increased 2.05 cents, to 150.1 cents / lb and September futures rose 2 cents, to 152 cents / lb, the increases are very significant. Trading volume quite high above mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 200-300 VND, up fluctuating in the frame of 34,200 – 34,500 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,576 USD / ton, FOB – HCM, with a plus difference at 20 USD / ton in term of September in London.
Reais copper increased slightly 0.15%, rate increased at 1 USD = 5.2240 Reais due to concerns of external markets about the possibility of economic recovery and the Fed will raise the basic interest rate of USD, causing US stocks to decline. fell but helped regain the green color.
Coffee prices returned to the uptrend when Fitch Solutions Inc. The world rankings gave an analysis that coffee prices will continue to increase in the short term due to declining Brazilian output this year. However, Fitch also pointed out that prices will drop at the end of the year, when major producers such as Vietnam, Colombia and the Mexican production block – Central America harvest a new crop and Brazil will have a new crop in 2023. with the positive outlook of the cycle “Every two years”. (Read more)
The protests against the tax reform project aimed at increasing the revenue of the Colombian government have not ended due to the consequences, especially with the number of casualties, even though the Government announced the project withdrawal. tax reform this time.
English (giacaphe.com)
