Coffee futures prices tend to correct and consolidate at the end of the week, while the USD continues to increase, which also makes speculators consider and balance their position.
Robusta London T1 / 2021 chart session on 11/12/2020
KAt the end of the last session of the week, Robusta coffee prices on ICE Europe – London decreased. January spot futures fell 3 USD, down to 1,410 USD / ton and futures for March delivery dropped 2 USD, to 1,419 USD / ton, the slight decrease. Trading volume is above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also decreased. Futures for December delivery fell 0, 85 cents, to 109.25 cents / lb and futures for March delivery fell 0.75 cents, to 112.2 cents / lb, the slight decrease. Trading volume fell above average.
The price of coffee beans in the Central Highlands provinces increased by 0-100 VND, down fluctuating in the frame of 33,700 – 34,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,539 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper rose slightly 0.18%, to stand at $ 1 = 5.4740 Reais after an increase in GDP and economic recovery expectations on the outlook for the conoravirus vaccine. Meanwhile, USDX continued to fluctuate strongly and increased by 1.60% during the week, forcing speculation on derivatives exchanges to consider balancing their positions.
Coffee futures price correction at the end of the week is common. However, speculation on both exchanges has been cautious about negative news in producing countries, although there are still many reports showing that the risk of an epidemic of covid-19 increases almost without stopping.
Vietnam continues to welcome typhoon No. 13 (international name is Vamco) entering the Central Coast today, continuing to cause widespread rain, hindering the harvest of coffee in the new season. While weather forecasts from Brazil said that in the two major producing states, Minas Gerais and São Paulo, there will be widespread rain and no worries about dry weather.
English (giacaphe.com)
