The decline in USDX was due to uncertainty about the new funding package but helped support coffee prices to continue the recovery.
Robusta London T1 / 2021 chart session on December 11, 2020
KAt the end of the last session of the week, Robusta coffee prices on ICE Europe – London continued to rise. January spot futures increased by 9 USD, up to 1,335 USD / ton and futures for March delivery increased by 6 USD, to 1,357 USD / ton, the slight increase. Trading volume below average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same trend. Futures for delivery in March increased 0.55 cents, to 121.65 cents / lb and futures for May delivery also increased by 0.55 cents, to 123.4 cents / lb, the slight increase. Trading volume below average.
The price of coffee beans in the Central Highlands provinces increased by 200-300 VND, up fluctuating in the frame of 32,000 – 32,500 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,437 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.
Reais copper fell slightly 0.09%, to stand at $ 1 = 5.0470 Reais after a fairly stable session in the context of the Brazilian stock market continued its recovery momentum since the start of the global pandemic.
Meanwhile, USDX declined for the fourth consecutive week due to concerns about increased covid-19 risks and the uncertainty surrounding a new funding package agreement in US politics and concerns. Brexit no deal is likely to happen.
Information Brazil coffee exports in November reached a record level over the same period for many years and Vietnamese farmers started to sell new crops to the market could not erase the fear of supply shortage. But it also contributed to making investors cautious, continuing to stand outside and wait for more, which made the rise on both exchanges slowed down.
English (giacaphe.com)
