According to the ICO, global coffee exports in October 2020 totaled 9.67 million bags, up 3.2% year-on-year, amid a second outbreak of covid-19 outbreak.
Robusta London T1 / 2021 chart session on December 1, 2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London continued to decline. Futures for delivery in January decreased by 18 USD, down to 1,383 USD / ton and futures for delivery in March decreased by 17 USD, to 1,388 USD / ton, the decreases were very significant. Trading volume is at medium level.
Similarly, Arabica coffee prices on the ICE US – New York floor also continued to decline. Futures for delivery in March decreased by 4.85 cents, down 118.45 cents / lb and for May futures decreased by 4.7 cents, to 120.4 cents / lb, the declines very strongly. Trading volume remained quite high above average.
The price of coffee beans in the Central Highlands provinces decreased by 200-300 VND, down fluctuating in the frame of 32,500 – 32,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,468 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.
Reais copper rose sharply to 2.24%, to stand at $ 1 = 5.2280 Reais in an optimistic global session on reports of many positive economic growth, in the context of many countries still real current measures of social distancing and vaccine will likely soon be this month.
US stocks rebounded again because there was more information that would resume negotiations on an unapproved capital financing package in the US Congress.
The main coffee regions in Brazil will have a lot of favorable rain next week for the development of coffee trees. This is the basis for speculation to increase net selling, although the market has just received more forecast that the 2021/2022 crop of Brazil will continue to decline sharply not only because of a cyclical “Two years one”.
According to the International Coffee Organization’s (ICO) October Trade Report, global coffee exports for the month reached 9.67 million bags, up 3.2% year-on-year. However, global exports in the past 12 months fell 3.7% from the previous 12 months, to only 127.49 million bags, including 78.46 million bags of Arabica coffee, down 6.38%. and 49.04 million bags of Robusta coffee, up 0.80%.
Speculative capital flows in the derivative markets have flowed strongly to gold and crude oil due to relatively high instant profits, while the speculators have returned to net selling quite strongly on both coffee markets. due to net purchase “Over hand” before that caused prices to fall further. Besides, there is also the pressure to sell new crops from producers in Latin America and Vietnam after the weather is favorable to boost the harvest of the crop.
English (giacaphe.com)
