Coffee futures price corrections increased on both exchanges is common after many consecutive declining sessions.
Robusta London T1 / 2021 chart session on 11/25/2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London adjusted to increase. Futures for delivery in January increased 13 USD, to 1,366 USD / ton and futures for delivery in March increased 11 USD, to 1,376 USD / ton, the significant increases. Trading volume below average.
Similarly, Arabica coffee prices on the ICE US – New York floor also increased. Futures for March delivery increased 1.25 cents to 117.15 cents / lb and for May futures rose 1.15 cents, to 119 cents / lb, the significant increases. Trading volume is at medium level.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the frame of 32,400 – 32,800 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,456 USD / ton, FOB – HCM, with the difference plus 70-80 USD / ton according to the term price in March in London.
Reais copper increased strongly by 1.06%, to stand at 1 USD = 5,3200 Reais due to optimism from foreign investment inflow continued to flow strongly before the holiday. Thanksgiving in America today.
Two-floor coffee prices adjusted up after a series of declines is common, especially when the price movement in the last consecutive sessions shows the liquidation of net buying positions. “Over hand” Previously, the division speculated when there was unfavorable weather news on the coffee regions in Brazil, Central America and Vietnam.
Meanwhile, many EU and North American countries increased their social gap measures because of the covid-19 epidemic the second time, causing the market to develop concerns about global consumption slowing down. The White House news turned on the signal to start the process of transferring power to help markets flourish and investment flows out of their temporary shelters.
The Foreign Agriculture Division under the US Department of Agriculture (USDA) forecasts that Indonesia’s output in coffee year 2020/2021 will be about 10.7 million bags, an increase of 200,000 bags, of which Robusta coffee increases to 9, 4 million bags thanks to improved production in upland areas and Arabica coffee at 1.3 million bags, unchanged.
Notification:
Today Thursday, 11/26, New York market Thanksgiving holiday, no transactions
English (giacaphe.com)
