Trading volume was very low on both futures exchanges due to early closings and the majority of investors went for the Christmas holiday.
Harvest coffee in the Central Highlands
KAt the end of the last session of the week, Robusta coffee prices on ICE Europe – London tended to recover. Futures for delivery in March increased 5 USD, to 1,383 USD / ton and futures for May delivery increased 6 USD, to 1,393 USD / ton, the slight increases. Trading volume very low below average.
Similarly, Arabica coffee prices on ICE US – New York floor also tend to recover. Spot futures in March increased by 1.4 cents / lb, to 125.95 cents / lb and futures for May delivery also increased by 1.4 cents, to 127.85 cents / lb, the increases are very significant. . Trading volume very low below average.
The price of coffee beans in the Central Highlands provinces increased by 100 VND, up 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 copper fell another 0.24%, to $ 1 = 5.2160 Reais due to foreign exchange concerns as USDX rose after the threat of vetoing a new funding package if the US Congress did not quickly consider. , adjusted.
Although the green color has covered most of the markets, it is only a correction to the balance of speculative positions before the long Christmas holiday rather than an increase in buying. In particular, the trade volume was very low due to the early closing of the coffee floors and the majority of investors left the market with a holiday that lasted to the beginning of next week.
Although so far about 60-70% of the new Robusta crop has been harvested, Vietnamese farmers are not in a hurry to sell their products because London prices are fluctuating too low, coffee growers are not making a profit. Meanwhile, the quality of coffee beans in the new crop is highly appreciated when the area of specialty coffee is expanding and the post-harvest technology is more focused.
Note:
– Monday, December 28: London closed with no transactions. New York is open late.
English (giacaphe.com)
