At the end of the last session of the week, coffee futures markets showed contrary to the balance and adjusted the books of investors, while continuing to worry about Brazil’s new supply of Arabica.
Robusta London T5 / 2021 chart session on March 12, 2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London reversed and decreased. May spot futures fell 16 USD, down to 1,403 USD / ton and July futures also dropped 16 USD, to 1,427 USD / ton, the decline is very significant. Trading volume very low below average.
In contrast, Arabica coffee prices on the ICE US – New York floor increased for the fifth consecutive session. Futures for May delivery increased 0.65 cents, to 133 cents / lb and July futures increased 0.6 cents, to 134.95 cents / lb, the slight increase. Trading volume on mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 200-300 VND, down fluctuating in the frame of 32,500 – 33,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,487 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper fell 0.36%, to $ 1 = 5,5600 Reais, even though the Central Bank of Brazil (BC) had abnormal intervention could not stop Reais from falling slightly again and feared that some states would social distancing measures have been increased when there is an increase in the number of people infected with covid-19.
Meanwhile, the US Treasury’s long-term Treasury yields rose to their highest level since the beginning of the year and speculation that inflation will increase forced the Federal Reserve (Fed) to think about adjusting interest rates and USDX further. connecting up momentum in a strong currency basket pushed emerging currencies at a disadvantage.
London Robusta coffee prices reversed and decreased due to the confusion post-Brexit and the UK’s January economic report was lower than expected, while the EU vaccination was judged to lag behind all else due to concerns about vaccine effectiveness and especially the European Central Bank (ECB). There is no intention to expand the stimulus program that follows the US $ 1.9 trillion package due to uncontrollable inflation fears. .
English (giacaphe.com)
