The early approval of the funding package reduced the pressure on the foreign currency demand of emerging countries, while short-term investors on both futures took profit and adjusted their speculative positions.
Robusta London T1 / 2021 chart session on December 15, 2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London decreased. January spot futures dropped 1 USD, down to 1,348 USD / ton and futures for March delivery dropped 4 USD, to 1,372 USD / ton, the slight decrease. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor also reversed and decreased. Futures for March delivery fell 1.5 cents, to 124.65 cents / lb and for May futures fell 1.45 cents, to 126.5 cents / lb, the increases are very significant. Trading volume above average.
The price of green coffee in the Central Highlands provinces has not changed, still fluctuating in the frame of 32,400 – 32,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,452 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.
Reais copper rose 0.76%, to stand at $ 1 = 5.0860 Reais after the weakening of USDX and positive growth in emerging currency due to investor optimism with vaccination prevention covid-19 in America, despite the spread of the disease in its own country. Besides, there was also information about the new financing package that was approaching the agreement of the parties, reducing the pressure on foreign currencies of many countries.
The last policy meeting in 2020 of the US Federal Reserve (Fed) is going on with the expectation that there will be more new policies to support economic growth in the coming year, which are already funded by the Monetary Fund. International (IMF) has evaluated it as a really bad year as a result of the covid-19 epidemic.
The price of coffee decreased in the cautiousness of investors when it was suggested that the drought in Brazil is not as high as the market speculates, but the next crop output is only due to the low output of coffee trees in the year. of the cycle “Two years one” and this has become the rule.
Robusta coffee prices are adjusted downward due to speculators balancing their positions before the expiration date of the January 2021 futures contract at London floor.
Vietnam Customs has just released data showing that coffee exports in November reached 83,730 tons, equivalent to 1,395,500 bags, down 8.4% from the previous month, down 3-year low. Therefore, the cumulative exports in the first 11 months of this year totaled 1,426,052 tons (about 14.26 million bags), down 3% compared to the first 11 months of 2019.
English (giacaphe.com)
