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Coffee Sep 21 (KC=F)

NYBOT - NYBOT Delayed price. Currency in USX
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151.90-0.05 (-0.03%)
At close: 1:29PM EDT
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Pre. SettlementN/A
Settlement date2021-09-20
Open151.60
Bid151.85
Last price151.95
Day's range149.15 - 153.15
Volume28,561
Ask151.90
  • Commodities hedge funds back in vogue after years of outflows
    Reuters

    Commodities hedge funds back in vogue after years of outflows

    Hedge funds focused on commodities have generated strong returns in 2021 and investors long wary of such funds are now putting money into them, betting the recovery from the pandemic will charge demand for oil, gas and raw materials from metals to grains to sugar and coffee. While money has flooded into other commodity investments, hedge funds are a more surprising choice after years of outflows and closures of several high-profile firms. Among the funds notching big gains this year are those run by famed oil investor Pierre Andurand.

  • Yahoo Finance Video

    Coffee industry ‘experiencing lower volatility’

    Trade CEO, Mike Lackman, joins Yahoo Finance to discuss Trade’s accessibility to all types of consumers and the increased growth the company witnessed during the pandemic and how they have been able to maintain a steady growth.

  • Scramble for Workers in Australia Signals Inflation Coming
    Bloomberg

    Scramble for Workers in Australia Signals Inflation Coming

    (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.From tropical island resorts to Outback whiskey makers to mountain ski fields to inner city coffee shops, Australian businesses are struggling to recruit the staff they need to service their cashed up customers.Australians each year spend about A$20 billion ($15.5 billion) more abroad than international tourists do Down Under -- money that’s now being spent locally as the border remains shut to keep out Covid-19. Also locked out are the around 15% of the labor supply in hospitality and food trades that are usually drawn from overseas workers.“We are offering above-award wages,” said Kate O’Callaghan, chief executive officer of the Whitton Malt House, whiskey distillery in western New South Wales, explaining recruiting efforts. “We’re always advertising. We’re sort of desperate on social media because we’re always looking for people who want to work.”Such troubles would be music to the ears of Reserve Bank Governor Philip Lowe, who is trying to drive down unemployment to trigger pay gains across the economy. He has struggled to meet the RBA’s 2-3% inflation target since taking the helm in 2016 and now says the goal is unlikely to be achieved until 2024 “at the earliest.”Gareth Aird, head of Australian Economics at Commonwealth Bank of Australia, reckons the governor might be a little too pessimistic.“If you’re trying to achieve higher wages and higher inflation, what you need is things like capacity utilization at elevated levels, you need lots of skills shortages so that you’ve got a better chance of wages coming through,” he said. “Everything looks like it’s moving in the right direction on that front.”A diminished pool of skilled labor -- from baristas to waiters to chefs -- means businesses will need to start bidding higher to secure employees. Yet, there will always be lags between anecdotes of higher wages and the bulk of the work force actually receiving them.‘Work in Paradise’After bearing the brunt of last year’s lockdowns, the Australian hospitality industry is now ground zero for labor shortfalls. In Queensland state, the government is offering cash and a travel bonus to encourage potential workers to move to tourism hotspots like the Whitsunday Islands and Cairns, a popular departure point to the Great Barrier Reef.“You could be eligible for a A$1,500 incentive and a A$250 travel bonus to get you to paradise!” the government says on its website promoting the the ‘work in paradise’ program. “There are thousands of jobs that need to be filled in Queensland’s most beautiful destinations.”It’s not just hospitality, either. In resource-rich Western Australia, gold miner St. Barbara has struggled to fill critical roles and mining services company Mineral Resources can’t secure enough truck drivers. Meantime, foreign construction companies that have won contracts in Australia say they’re struggling to bring in skilled labor to complete the jobs.It’s a similar scene on the mountain slopes of Victoria, where professionals traditionally follow winter around the world.“Mt Buller is certainly experiencing challenges this season with the ski and snowboard school,” said Rhylla Morgan, a spokeswoman for the resort. “Many of the highly experienced instructors and coaches who work professionally here and abroad following winter are unable to travel to work with us this season.”Aird says that CBA’s profile for inflation and wages “is running ahead of what the RBA is saying,” adding that “the forward-looking indicators of labor demand are as strong as we’ve seen them in a long, long time.”(Updates with quote from Aird in final paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.