Level current gap price Not beneficial for Arabica New York coffee but good support for London Robusta coffee…
Robusta London T7 / 2021 chart session on April 28, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London continued to rise. July spot futures increased by 7 USD, to 1,468 USD / ton, September futures increased by 6 USD, to 1,489 USD / ton, the slight increase. Trading volume above average. Robusta coffee prices in London are standing at a 7-week high.
In contrast, Arabica coffee prices on the ICE US – New York floor decreased. July spot futures decreased 0.05 cents, to 145.85 cents / lb and September futures remained unchanged, standing at 147.8 cents / lb, while long term futures increased, very slight increases / decreases. Trading volume on mGermany medium. Arabica coffee prices in New York are standing at a 15-month high.
The price of coffee beans in the Central Highlands provinces increased by 100 VND, up to fluctuating in the frame 33,400 – 34,000 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,518 USD / ton, FOB – HCM, with a slight contraction difference of 40-50 USD / ton according to the July futures price in London.
Reais copper surged 1.84%, rate increased at 1 USD = 5.3610 Reais, the highest price since 12/02, after market reaction to Fed’s announcement that it is not yet coming. time to change monetary stimulus measures and the current base interest rate of USD will remain until 2023. The peace of mind from the outside of the investment inflows has supported the Reais to bounce back. quite strong.
Coffee prices on both exchanges recovered, after being liquidated, balancing their positions quite strongly from the beginning of the session and showing a mixed trend at the end of the session, which was only a common correction after having rebounded continuously , especially the current differential price “Not good for Arabica New York coffee but good support for London Robusta coffee” as stated in news on April 27th.
The coffee market has raised new concerns when an outbreak in some Asian countries makes the Robusta supply mainly in the continent likely to stagnate.
English (giacaphe.com)
