May term option contract term continues to support coffee prices to recover on both exchanges, while Brazil’s output in the new crop this year continues to plummet and continues to be a concern of global consumer markets …
Robusta London T5 / 2021 chart session on 04/14/2021
At the end of the session, Robusta coffee prices on ICE Europe – London continued to rise. Futures for immediate delivery in May increased by 21 USD, to 1,365 USD / ton and for July futures increased by 22 USD, to 1,391 USD / ton, the very significant increases. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor increased for the third consecutive session. Futures for May delivery increased 2.05 cents, to 132.1 cents / lb and futures for July delivery increased by 2.1 cents, to 134.05 cents / lb, the gains were quite strong. Trading volume maintained very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 300-400 VND, up fluctuating in the frame of 32,100 – 32,700 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,451 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 0.83%, rate increased at 1 USD = 5.6660 Reais after proposing expenses with covid-19 would remain outside the spending ceiling. Meanwhile, the major banks in the world will consider preventive measures “risk” investment loan intervals after Archegos default is not only 10 billion USD as initial information. USDX weakening again, causing US stocks to decline, is also an opportunity for emerging markets to increase buying, helping most commodity markets regain the green color.
Brazil started to harvest Conilon Robusta coffee and about two months later Arabica coffee was produced according to the correct season. Expected this year Arabica coffee output plummeted to 35%, while Robusta increased about 11% with a total output of 52 million bags. Citigroup estimates that it will lead to a global shortage of 7.5 million bags of Arabica coffee in the new crop year 2021/2022.
According to preliminary data reported by Vietnam Customs, coffee exports in the first 6 months of the current coffee year 2020/2021 total about 12.79 million bags, down 13.88% over the same period. coffee in advance. The reason for the sharp decline in coffee exports is due to the negative impact of the covid-19 epidemic on the global consumption market recently and especially coffee growers in Vietnam who are not actively selling. due to London floor futures still stagnant, even though the price difference plus the market lasted for an unprecedented time.
English (giacaphe.com)
