Reais’s strong return caused Brazil to fall in selling and GCA’s declining February inventory report supported prices, while most investors await the results of the upcoming monetary policy meeting of major central banks. out…
Robusta London T5 / 2021 chart session on March 16, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London reversed and increased. May spot futures increased 18 USD, to 1,406 USD / ton and July futures also increased by 18 USD, to 1,430 USD / ton, the very significant increases. Trading volume maintained very low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. May spot futures increased 2.4 cents, to 134.5 cents / lb and July futures rose 2.35 cents, pears 136.45 cents / lb, the increase is very significant. Trading volume on mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 300-400 VND, up fluctuating in the frame of 32,500 – 33,000 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,480 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 0.40%, to $ 1 = 5,6160 Reais due to the support from the report of US economic data that was much lower than market expectations, weakening USDX, causing investors to Investments await decisions of the Bank of America (Fed) and Brazil (BC) in the upcoming monetary policy meeting.
The price of coffee on two floors increased when the Reais copper was strong again, causing Brazil to decrease selling. In particular, the market is keeping an eye on the upcoming monetary policy sessions of major economies in the world with the expectation that inflation will increase.
Contributing to support the price increase is the February 2021 inventory report of the Coffee Bean Association (GCA) in North America. By the end of the month, inventories had decreased by 52,000 bags, a decrease of 0.9% from the previous month, to 5.79 million bags. This is the lowest inventory level as of June 2015, but still well above the historic low registered by GCA in 2011 with more than 4 million bags. However, GCA’s total inventory tracking remains sufficient for more than 11 weeks of roasting operations, a figure most considered safe in the short to medium term.
The market continues to expect a rebound in coffee consumption as covid-19 vaccination expands around the world and social activities will boost the demand for coffee not only at home. .
English (giacaphe.com)
