The initial optimism and excitement about the new covid-19 vaccine seems to have calmed down, while typhoon 13 – Vamco only caused mild rains in the north of the Central Highlands coffee region and harvested Robusta crop. head is accelerated.
Robusta London T1 / 2021 chart session on 11/17/2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London reversed and decreased. January spot futures fell 24 USD, down to 1,416 USD / ton and futures for March delivery dropped 26 USD, to 1,423 USD / ton, the decline is very significant. Trading volume maintained above average.
In contrast, Arabica coffee prices on the ICE US – New York floor maintained an increase. Futures for December delivery increased 0.55 cents, to 116.2 cents / lb and futures for March delivery increased 0.75 cents, to 119.5 cents / lb, the significant increases. Trading volume is at level “Terrible”, rare.
The price of coffee beans in the Central Highlands provinces decreased by 400-500 VND, down fluctuating in the frame 33,700 – 34,200 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,543 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper surged 1.91%, to stand at 1 USD = 5,3320 Reais after Central Bank of Brazil (BC) increased swaps and foreign investment inflows strongly flowed into the stock market. . In contrast, USDX plummeted when the President of the Federal Reserve (Fed) expressed concern that the US economy is still risky because the covid-19 epidemic is still increasing and it is too early to talk about the effectiveness of the vaccine. new request. The US stock market has softened again after yesterday’s hot growth.
Arabica coffee prices in New York increased cautiously, investors waiting for more clear information about the consequences of the Iota hurricane in the Central American coffee growing countries.
Robusta coffee prices fell as soon as the President of the European Central Bank (ECB) announced that he was ready to adjust policies, bringing the base rate to 0% and applying the interest rate of -0.5% again. With the reserves, to support the Eurozone economy, which is currently facing the second covid-19 wave, even the advancement of a new vaccine does not change the economic outlook at the moment. It is clear that the risk of recession is very serious this time, despite overcoming the worst of the first covid-19 crisis.
Up to now, more than 70 countries have registered for loans from the International Monetary Fund (IMF) to recover their economies because of the pandemic.
English (giacaphe.com)
