May term option contract terminated has prompted speculators to adjust, balance positions in a trading session with a very significant fluctuation …
Robusta London T5 / 2021 chart session on April 12, 2021
Ending the first session of the week, Robusta coffee prices on ICE Europe – London increased. May spot futures unchanged, remained at $ 1,343 / ton and July futures rose $ 2, up $ 1,365 / ton, the slight increase. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also reversed and increased. Futures for delivery in May increased 0.85 cents, to 128.1 cents / lb and futures for July delivery also increased 0.85 cents, to 130 cents / lb, the slight increase. Trading volume maintained very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces increased from 0 to 100 VND, up to fluctuating in the frame 31,700 – 32,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,425 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper fell 0.89%, the exchange rate dropped to 1 USD = 5.7250 Reais after a volatile session with proposals to amend the Brazilian constitution towards bringing health spending out of the ceiling. budget to deal with the bottlenecks so that they can continue “Prioritize health” in the current epidemic prevention context.
Coffee prices on both exchanges increased slightly after having fluctuated quite strongly before due to the pressure to adjust and liquidate speculative positions before the expiration date of the May option contract.
The market also expressed concern about rising sea freight rates, due to the current congestion at many major commodity import-export ports in the world, also causing speculative capital flows into coffee products to decline.
Brazil begins to harvest Conilon Robusta coffee in major production regions, with the instant coffee industry’s production forecast for the instant coffee industry to increase about 8% from the previous year.
English (giacaphe.com)
