The long-term US Treasury bond yields set a record high attracted speculative capital inflows and maintained USD at a high level, continuing to make it difficult for emerging currencies, making commodity purchasing power not possible. boom, despite some optimism about the new funding package that was issued late at the end of the week …
Robusta London chart May / 2021 week 10 (from March 8, 2021 to March 13, 2021)
For the whole week 10, London market had 3 gaining sessions and 2 decreasing sessions. Robusta coffee futures for immediate delivery in May increased by $ 22, or up 1.59%, to $ 1,403 / ton and July futures increased by $ 27, or up 1.93%, to $ 1,427. / ton, very significant increases. Trading volume above average.
In contrast, New York market had all 5 gaining sessions. Arabica coffee futures for delivery in May increased all 4.15 cents, or 3.22%, to 133 cents / lb and July futures increased by 4.10 cents, or 3.13%. , to 134.95 cents / lb, gains are quite strong. Trading volume quite high above average.
The price of coffee beans in the Central Highlands market increased by 400-500 VND, up fluctuating in the frame of 32,400 – 32,900 VND / kg.
Arabica coffee prices rebounded due to worries about a drop in Brazil’s upcoming crop output as predicted, although the $ 1.9 trillion funding package was issued by the US President, but the Reais copper weakened. in turn assisted the Brazilian to boost their selling. While Robusta coffee prices also regained some momentum but speculation that Brazil’s Conilon Robusta output in the upcoming season is good and uncertain. post-Brexit did not support price increases. The European Central Bank (EBC) affirmed the view that it would not expand the economic stimulus packages like in the US due to fears of not curbing rising inflation in the Eurozone.
The latest Trader Commitment Report (CFTC) from the Arabica coffee market in New York shows that, as of Tuesday March 2, the non-commercial speculation division increased their net buying position by 2, 43%, registered net buying in 36,285 lots, equivalent to 10,286,637 bags. This net long position is most likely to have dropped again after a more negative trading period since then.
The latest CFTC report from Robusta coffee market in London shows that, by the same reporting period, short-term speculation of money management funds increased their net buying position by 144.11% to subscribe. net at 28,473 lots, equivalent to 4,745,500 bags. This net long position is most likely to have dropped again after a more negative trading period since then.
Inventory of Robusta coffee certified and tracked by the London floor, as of Monday March 8, has decreased by 310 tons, or 0.21% from a week earlier, to registration at 143,910 tons. (equivalent to 2,398,500 bags, 60 kg bags).
English (giacaphe.com)
