The prospect of the covid-19 vaccine is not enough to prevent the economic catastrophe caused by it is the warning of the leading central banks in the world, causing the market to increase further risk concerns …
Robusta London T1 / 2021 chart session on 11/12/2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London rose for the third consecutive session. January spot futures increased by 20 USD, to 1,413 USD / ton and futures for March delivery increased by 15 USD, to 1,421 USD / ton, the very significant increases. Trading volume is quite high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor extended the chain to the sixth session. Futures for December delivery increased 1 cent, to 110.1 cents / lb and futures for March delivery also increased by 1 cent, to 112.95 cents / lb, the significant increases. Trading volume remained very high above average.
The price of coffee beans in the Central Highlands provinces increased by 300-400 VND, up fluctuating in the frame of 33,700 – 34,200 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,541 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper plummeted by 1.19%, to stand at $ 1 = 5.4840 Reais, the lowest level in a week with an increase in the number of covid-19 infections in the world and after the statement of the President Ngan The European Central Bank (ECB) and the US Federal Reserve (Fed) increase risk concerns further.
The US stock market continues to adjust due to the expectation that the new funding package will soon be approved by the US Congress before the Lunar New Year holiday, even though the presidential election may be over early 2021 to be effective and the chances of a funding package have been pushed back further.
Coffee prices on both exchanges in the world continued to rise, not only from concerns about the possibility that Brazil would face a declining crop in 2021. “More than expected” but also worry from La Nina weather phenomenon that negatively affects coffee producing countries around the Pacific belt because of too much rain.
. English (giacaphe.com)
