Most markets were green after the “huge” spending package announced by the US President, but the price of Robusta coffee was at a disadvantage because the deposit level raised by the London floor forced speculators to sell. less to maintain business position …
Robusta London T5 / 2021 chart session on March 31, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London dropped for the third consecutive session. May spot futures dropped another 6 USD, down to 1,342 USD / ton and July futures dropped by 7 USD, to 1,366 USD / ton, the slight decrease. Trading volume quite tall above average.
In contrast, Arabica coffee prices on the ICE US – New York floor reversed and recovered. May spot futures increased 0.9 cents, to 123.5 cents / lb and July futures rose 0.75 cents, to 125.4 cents / lb, the significant increases. Trading volume maintained very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 100 VND, down to fluctuating in the frame 31,700 – 32,200 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,426 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper increased strongly by 2.24%, exchange rate at 1 USD = 5.6290 Reais after the adjustment of budget package in 2021 of the Government of Brazil. While spending package “giant” worth $ 2.25 trillion of the President of the US has just launched has helped USDX strong again and most of the commodity exchanges, stocks regained the green color.
Coffee prices on the two world futures bounced up quite sharply when the market received this information (See price chart on March 31, 2021).
However, the price of Robusta coffee could not hold its rise when the London floor announced an increase in the margin level, causing many speculators to sell off to adjust their business position.
Meanwhile, the third covid-19 pandemic is breaking out in the Easter season of this year, prompting many countries to re-establish social measures. Therefore, coffee prices continue to be under downward pressure in the short term, which is inevitable.
Notification: Tomorrow April 2, 2021, the holiday market TGood Friday (Good Friday), closed all day without trading.
English (giacaphe.com)
