New York floor prices adjusted downward at the end of options, while London continued its upturn momentum due to support from reports of declining exports from Vietnam …
Robusta London T5 / 2021 chart session on 04/21/2021
At the end of the session, Robusta coffee prices on ICE Europe – London rose for the third consecutive session. May spot futures increased by 10 USD, to 1,379 USD / ton and July futures increased by 12 USD, to 1,410 USD / ton, the significant increases. Trading volume above average.
In contrast, Arabica coffee prices on the ICE US – New York floor decreased. May spot futures fell 0.25 cents, down 132.2 cents / lb and July futures also dropped 0.25 cents, to 134.2 cents / lb, the levels down slightly. Trading volume maintained very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the frame of 32,400 – 33,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,470 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper remained stable at 1 USD = 5.5470 Reais due to the National Holiday (Tiradentes Day) in Brazil, while USDX recovered slightly after two days of decline at the beginning of the week due to the dispersion of speculative capital flows as more currencies appeared in the market. “electronic”.
Arabica coffee prices adjusted down immediately after the end of the May option contract, showing speculators’ caution about global coffee consumption is expected to decline as many countries have to increase measures. social distancing is spread by covid-19. Report of Arabica inventories certified by ICE – New York rose to the highest level in a year, continued to recover from a record low in October last year, also contributed to the slowdown on the rally.
Meanwhile, the London floor Robusta coffee price continued its recovery momentum when the market reported that Vietnam’s Robusta coffee exports in the first 3.5 months of 2021 fell sharply by 15.12% over the same period. in the context of increasing demand for raw materials for the instant coffee production industry. However, the pressure to expire May option contracts will increase sharply in the last two sessions of this week, which is likely to slow down London prices.
The market is also cautious as the Eurozone economy continues to stagnate due to the covid-19 epidemic and the European Central Bank (ECB) reports a current account surplus due to a decline in consumption. the first quarter of this year.
English (giacaphe.com)
