Coffee futures markets fluctuated quite strongly when investors were still watching the results of the presidential election of the US and many countries, especially in Europe, had to increase social gap measures because of the Covid pandemic. -19 times two.
Robusta London T1 / 2021 chart session on November 3, 2020
Ending the session, Robusta coffee prices on ICE Europe – London continued to decline. Futures for delivery in January decreased by 15 USD, down to 1,327 USD / ton and futures for delivery in March decreased by 11 USD, down to 1,340 USD / ton, the significant decreases. Trading volume remained very low below average.
In contrast, Arabica coffee prices on the ICE US – New York floor reversed and increased. Futures for December delivery increased 0.65 cents, to 103.45 cents / lb and for March futures rose 0.7 cents, to 106.05 cents / lb, the significant gains. Trading volume increased very high above average.
The price of coffee beans in the Central Highlands provinces has decreased by 200-300 VND, down to fluctuate in the frame of 32,000 – 32,600 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,460 USD / ton, FOB – HCM, with a difference plus 100 – 120 USD / ton in term of March in London.
Reais copper fell another 0.41%, to $ 1 = 5.7630 Reais due to the impact of the US presidential election with mixed comments and investor reactions to minutes of the meeting. 10 of the Monetary Policy Committee (Copom) of Brazil.
However, it can be seen that investors are very stressful about the risks from the US election, so they shifted their capital to seek shelter, pushing the gold price beyond 1900 $ / oz and USDX rebounding.
Coffee prices on the two exchanges returned to opposite terms. Robusta London weakened when most of the major consumer markets in the European Union had to re-establish social gap measures, while Arabica New York recovered slightly as speculative capital flows in due to stock markets. uncertain securities prior to the election.
English (giacaphe.com)
