Robusta coffee prices maintained momentum throughout the session, but nothing to be sure because most of the speculators were still standing outside and trading volume was only at medium low level.
Robusta London T1 / 2021 chart session on October 27, 2020
Ending the session, Robusta coffee prices on ICE Europe – London soared. January spot futures increased 38 USD, to 1,351 USD / ton and futures for March delivery increased 36 USD, to 1,357 USD / ton, the very strong increases. Trading volume is at medium level.
Meanwhile, Arabica coffee prices on ICE US – New York floor increased. Futures for December delivery increased 0.3 cents, to 106.95 cents / lb and futures for March delivery rose 0.2 cents, to 109.55 cents / lb, the slight increase. Trading volume is at medium level.
The price of coffee beans in the Central Highlands provinces increased by 500-600 VND, up fluctuating in the frame of 32,300 – 32,900 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,477 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper fell 1.24%, to $ 1 = 5.6840 Reais was the lowest level in nearly half a year due to increasing concerns about the Government of Brazil budget spending and market frustration. on the new funding package in the US Congress has almost stopped.
While Arabica coffee prices in New York only adjusted to increase slightly before London’s pull, Robusta coffee prices maintained momentum throughout the session. (see chart) due to the worry of some speculators about the news that Vietnam has received consecutive storms, which slowed the new harvest.
However, according to observers, the skyrocketing price in the last session is not sure when the trading volume is at a low average level because most speculators are still cautiously standing outside, in the context of the US stock market was deserted due to the disappointment of new funding packages and the outbreak of the second covid-19 epidemic that spread across North America and Europe.
English (giacaphe.com)
