The Reais Brasil continued to stand at a low level that would assist Brazilians to sell “do not hesitate” is what makes the world coffee market not desirable.
Robusta London T1 / 2021 chart session on October 29, 2020
Ending the session, Robusta coffee prices on ICE Europe – London continued to decline. January spot futures decreased by 10 USD, down to 1,337 USD / ton and futures for March delivery also dropped by 10 USD, to 1,345 USD / ton, the significant reductions. Trading volume is very low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor also tended to decrease. Futures for December delivery decreased 0.4 cents, down 104.6 cents / lb and futures for March delivery fell 0.5 cents, to 107.2 cents / lb, the levels down slightly. Trading volume is quite high above average.
The price of green coffee in the Central Highlands provinces decreased by 100-200 VND, down fluctuating in the frame of 32,200 – 32,700 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,465 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais continued to stand at $ 1 = 5.7650 Reais after falling slightly early in the session due to the forex market performing well from some data reporting very positive US economy growth in the third quarter. help USDX strong again.
Meanwhile, global stocks continued to decline due to the negative impact from the increase in social distance measures of key economies in Europe, making most investors still cautious. next to the turmoil in the US presidential election has been started.
Coffee prices continue to negative trend when the Monetary Policy Committee (Copom) of Brazil confirmed that it would keep the Reais copper interest rate at 2% / year stable and long. This will not attract investors with foreign capital and contribute to the low exchange rate of the domestic currency. This is also what the world coffee market does not want because it will assist the Brazilian to sell “do not hesitate”.
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