Futures prices returned to the uptrend thanks to speculative attraction, while most markets covered the red color …
Robusta London T5 / 2021 chart session on February 25, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London rose for the fourth consecutive session. May spot futures increased by 13 USD, to 1,476 USD / ton and futures for July delivery also increased by 13 USD, to 1,495 USD / ton, the significant increases. Trading volume maintained very high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor returned to the uptrend. May spot futures increased 2.8 cents, to 140.05 cents / lb and July futures also rose 2.8 cents, to 141.85 cents / lb, a decent increase. Trading volume 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 33,300 – 33,700 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,555 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper plummeted 1.67%, to $ 1 = 5,5110 Reais, a year low due to fears of rising US long-term bond yields continuing to pressure the emerging currency and attracting Foreign investors return to Wall Street to expect inflation when the 1.9 trillion USD financing package is approved by the US Congress, although the Central Bank of Brazil (BC) has launched 1.5 billion USD to support. liquidity and US stocks turned back, most markets were in red.
Two-floor coffee prices returned to the uptrend thanks to investment flows shifting channels to seek short-term profits, and especially gold prices plummeted, no longer a temporary shelter and crude oil production capacity is still very abundant. . According to speculation, it is not just a concern that the supply of coffee from Brazil falls seasonally “Every two years” coming up that could be even worse due to adverse weather forecast. While the amount of Robusta coffee exported from Vietnam decreased not only because of a few days in February, but also due to the long traditional Tet holiday.
According to data reported by Vietnam Customs, coffee exports in the first half of February 2021 only reached 49,734 tons, equivalent to 828,000 bags, down 43.71% over the same period last year.
Today is the weekend session and also the end of February, speculators often adjust and balance their positions. Whether the coffee prices will reverse or continue to boost the uptrend even though the markets have entered overbought zones.
English (giacaphe.com)
