Coffee May 21 (KC=F)
| Pre. Settlement | N/A |
| Settlement date | 2021-05-18 |
| Open | 138.00 |
| Bid | 137.35 |
| Last price | 137.50 |
| Day's range | 135.55 - 139.65 |
| Volume | 30,150 |
| Ask | 137.65 |
- Reuters
Domestic coffee prices pick up in Vietnam on global cues, tight supplies
Vietnam's domestic coffee prices edged up on Thursday, on upbeat global prices and limited supplies as farmers refrained from selling the bean on hopes that prices could rise further, traders said. Farmers in the Central Highlands, Vietnam's coffee-growing capital, sold coffee at 33,500-34,000 dong ($1.46-$1.48) per kg, up from last week's 32,300 dong. May robusta coffee on Wednesday settled at its highest level in a year, at $1,463 per tonne, Refinitiv Eikon data showed.
- Bloomberg
Commodities Hit Highest Since 2013 Amid Inflation Concern
(Bloomberg) -- Commodities rose to their highest in almost eight years amid booming investor appetite for everything from oil to corn.Hedge funds have piled into what’s become the biggest bullish wager on the asset class in at least a decade, a collective bet that government stimulus plus near-zero interest rates will fuel demand, generate inflation and further weaken the U.S. dollar as the economy rebounds from the pandemic.The Bloomberg Commodity Spot Index, which tracks price movements for 23 raw materials, rose 1.6% on Monday to its highest since March 2013. The gauge has already gained more than 60% since reaching a four-year low in March 2020.Advances on the day were helped by copper, which rose above $9,000 a metric ton for the first time in nine years, before extending gains further on Tuesday. Oil also jumped to the highest in more than a year on speculation that global supplies are rapidly tightening, while coffee and sugar rose.“Folks who have really ignored commodities for quite a long time are now starting to get positioned,” said Bart Melek, head of commodity strategy at TD Securities. “The implication is that this could go on for a bit. It’s very much a function of expectations of scarcity.”JPMorgan Chase & Co. said earlier this month that commodities appear to have begun a new supercycle -- an extended period during which prices are well above their long-run trend. That echoes similar comments from others including Goldman Sachs Group Inc. Commodities have seen four comparable cycles over the past 100 years.The asset class is typically viewed as a good hedge against inflation, which has recently become more of a concern among investors. The commodities rally will be a story of a “roaring 20s” post-pandemic economic recovery as well as ultra-loose monetary and fiscal policies, JPMorgan analysts led by Marko Kolanovic said Feb. 10.Commodities may also jump as an unintended consequence of the fight against climate change, which threatens to constrain oil supplies while boosting demand for metals needed to build renewable energy infrastructure and manufacture batteries and electric vehicles, they said.Copper is surging amid a broad rally in metals from iron ore to nickel. The bellwether industrial commodity has doubled since a nadir in March, also boosted by rapidly tightening physical markets and prospects for rebounding economic growth.“The mega-trends that we see playing out around global population growth, the electrification thematic and the energy transition, all of these bode well for commodity demand over the medium-to-long term,” Mike Henry, the chief executive officer of mining giant BHP Group, said last week in a Bloomberg Television interview.Commodities swings have huge impact on cost of living since they can encompass the price of fuels, power, food and construction projects. They also help shape terms of trade, exchange rates and ultimately the politics of commodity-dependent nations like Canada, Brazil, Chile and Venezuela.(Updates with prices in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Reuters
The new black gold? Big Oil bets on retail networks in an electric era
For Big Oil, coffee and chocolate could be the new black gold. Under pressure from investors and governments alike to cut emissions, major European oil companies are ploughing billions into renewable energy but are struggling to craft business plans that promise the returns shareholders have come to expect. Europe's big oil firms, however, have another card to play: their vast global networks of filling stations.
