Market fluctuations waiting for information from the FOMC session has just started, while the Brazilian Reais rebound strongly contributed to support the coffee price.
Robusta London Tuesday / 2021 chart session on January 26, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London reversed and increased. Futures for delivery in March increased by 8 USD, to 1,317 USD / ton and futures for May delivery increased by 7 USD, to 1,325 USD / ton, the slight increases. Trading volume in average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. Futures for delivery in March increased 1.25 cents to 124.5 cents / lb and futures for May delivery rose 1.2 cents, to 126.6 cents / lb, the gains slightly. Trading volume maintained above average.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the frame 31,200 – 31,700 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,405 USD / ton, FOB – HCM, with the difference plus 70-80 USD / ton in term of May in London.
Reais copper surged 3.37%, to $ 1 = 5.3230 Reais, the largest daily gain since June 8, 2018, due to domestic investor reactions to minutes of the meeting. Last week of the Committee for Monetary Policy (Copom) with the possibility that Central Bank of Brazil (BC) needs to raise interest rates for Reais in the short term. Meanwhile, US stocks suddenly plunged at the end of the session after hitting an intraday high with very significant profits.
Coffee prices continue to fluctuate in the wait for new information, especially news from the first meeting of the FOMC under the new US President, while supply and demand have not been new, except for a few comments. that it seems a bit early to consider the upcoming case of Brazil“Severe crop failure”. Although the closing prices have increased significantly, trading volumes on both exchanges remain low. According to observers, coffee futures prices have corrected after consecutive declining sessions, rather than returning to the positive trend when the market still lacks buying power and investors are still cautious and listening. more.
The Vietnamese market has only half a month left to enter the one week of Tan Suu Traditional New Year holiday. However, speculation that there will be a massive selling force from farmers to pay for the holiday season has not taken place, with some coffee buying agents saying that the current lifetime is not half as compared to the previous year. before.
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