The market does not seem to be paying too much attention to the US election results, but expectations for the covid-16 preventative vaccine and the new funding package soon revive when the President of the US House of Representatives announced yesterday helped a lot. goods regained blue.
Robusta London T1 / 2021 chart session on 11/10/2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London reversed and increased. January spot futures increased 19 USD, to 1,366 USD / ton and futures for delivery in March increased 18 USD, to 1,379 USD / ton, the very significant increases. Trading volume below average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. Futures for December delivery increased 0.45 cents, to 107.3 cents / lb and for March futures increased 0.45 cents, to 110 cents / lb, the gains slightly. 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 framework of 32,900 – 33,500 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,481 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper fell slightly by 0.07%, to stand at $ 1 = 5,3900 Reais continued to maintain a positive trend from the impact of the US election, accompanied by local adjustments and fiscal caution. domestic.
It seems that the US election results are no longer attractive, the market has shown interest again according to the statement of the President of the US House of Representatives about the new funding package and the expectation that the preventive covid-19 vaccine will soon appear. USDX rose, emerging currencies fluctuated strongly in optimism that helped most commodity markets regain the green color.
The aftermath of hurricane Eta on the Central American countries was very heavy with hundreds of deaths and enormous physical damage. The storm has stalled the harvest of the new Arabica coffee crop that has been deployed in the lowlands.
Vietnam continues to suffer from storm No. 12 hitting the Central region, causing rain and flooding and miss land in many places. It is forecasted that in the next few days there will be the next storm with a stronger intensity. Robusta coffee production areas in the Central Highlands continue to be partially flooded, farmers have not yet been able to deploy mass harvest.
English (giacaphe.com)
