The balance adjusted speculative position and short-term profit taking in the last session of the week caused prices to reverse and drop on both world coffee futures trading floors …
Robusta London T1 / 2021 chart session on December 18, 2020
KAt the end of the last session of the week, Robusta coffee prices on ICE Europe – London decreased. January spot futures fell 3 USD, down to 1,362 USD / ton and futures for March delivery dropped 7 USD, to 1,380 USD / ton, the slight decrease. Trading volume in average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. Futures for delivery in March decreased 1.35 cents / lb, to 125.25 cents / lb and futures for May delivery fell 1.4 cents, to 127.1 cents / lb, the significant reductions. Trading volume in average.
The price of green coffee in the Central Highlands provinces decreased by 0-100 VND, down to fluctuating in the frame of 32,600 – 33,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,460 USD / ton, FOB – HCM, with the difference plus 60-80 USD / ton in term of March in London.
Reais copper fell slightly by 0.07%, to stand at $ 1 = 5.0840 Reais with the cautiousness of domestic investors, while the market continued to wait for a new funding package is still fluttering. and tension escalated as the United States added 60 other top Asian nations’ organizations to the list of export restrictions, even though the political situation after the US presidential election remained. “noisy”.
Coffee prices fell on both exchanges, as most speculators continued to show caution against negative news of the world economy caused by the covid-19 pandemic and in the wait for vaccines. Please, so the trade volume in the past session is only average.
Arabica coffee prices weaken again when it is forecasted that the upcoming weather in the main growing regions of Brazil will have a lot of rain and dry worries are almost negligible. Meanwhile, new season sales pressure from leading Robusta producer has increased significantly and the implementation of the January 2021 futures contract in London is nearing completion.
English (giacaphe.com)
