Congress agreed to raise subsidies for families to the level proposed by President D. Trump appears to have turned most commodity markets back up.
Robusta London Tue / 2021 chart session on December 29, 2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London were stable. March spot futures were unchanged, still at $ 1,383 / ton, and May futures were also unchanged, still at $ 1,393 / ton, while July futures rose $ 2, to $ 1,408 / ton. ton. Trading volume very low below average.
In contrast, Arabica coffee prices on the ICE US – New York floor reversed and increased. Futures for delivery in March increased 2.05 cents / lb, to 125.4 cents / lb and futures for May delivery rose 2 cents, to 127.3 cents / lb, the increases are very significant. Trading volume maintained below average.
The price of coffee beans in the Central Highlands provinces continued to be unchanged, still fluctuating in the frame of 32,700 – 33,100 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,493 USD / ton, FOB – HCM, with the difference plus 80-100 USD / ton in term of May in London.
Reais rose 1.10%, to stand at $ 1 = 5.1810 Reais due to weakening foreign currency with the possibility that the new funding package will be adjusted by Congress, increasing the subsidy to $ 2,000 for the country. family in the US instead of just 600 USD as stated.
However, Arabica coffee prices in New York could not regain what was lost in the previous session, even though the strong Reais support again limited exports from Brazil. Meanwhile, the price of Robusta coffee in London remained stable despite the support from the EU and UK agreement on some solutions. Brexit.
In general, coffee prices on two world futures exchanges remained cautious with very low trade volumes, as most traders left the market for the long New Year 2021 holiday. While the Covid-19 epidemic was still widespread, the production of vaccines and the implementation of vaccination were not rapid.
English (giacaphe.com)
