Coffee prices continued to rise over the third consecutive week, showing that Brazil’s crop output about to be harvested has become a current concern of world coffee futures markets …
Robusta London T7 / 2021 chart session on April 27, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London rose for the fourth consecutive session. July spot futures increased by 21 USD, to 1,461 USD / ton, September futures increased by 23 USD, to 1,483 USD / ton, the very significant increases. Trading volume quite high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. July spot futures increased by 2.55 cents, to 145.9 cents / lb and futures for September delivery also increased by 2.55 cents, to 147.8 cents / lb, the very significant increases. 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 33,400 – 33,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,511 USD / ton, FOB – HCM, with a slight contraction difference of 40-50 USD / ton in terms of July futures in London.
Reais copper fell 0.22%, the exchange rate dropped to 1 USD = 5.4610 Reais after the change in manpower to lead the Parliamentary Investigation Commission (CPI) in using the allocated funds for anti-epidemic prevention. translation in Brazil. Meanwhile, US stocks set a record in a closing session but with no clear direction with expectations of the Fed’s monetary policy decision tomorrow stimulated long-term Treasury yields. increase again.
Coffee prices continued to rise on both exchanges because capital flow returned to increase buying after liquidating, adjusting position because of strong net selling and especially the expiration of month option contract. Previously, before the fear of dry weather in Brazil, it would reduce the quality of the new crop about to be harvested and the potential risk of frost this year.
A number of Asian countries have risen again, causing new concerns, especially in India with more than 1.3 billion of the population making the world urgent humanitarian assistance. While some European countries started to loosen their social gap when the number of vaccinations increased, this has contributed to alleviate the current tensions.
The large concentration of people through festivals in India contributes to the spread of the uncontrollable covid-19 epidemic which is a valuable lesson for Vietnam before the upcoming April 30 and May 1 festivities. adjacent.
English (giacaphe.com)
