The world financial market continues “Bulging”, because the results of the US presidential vote count are likely to occur protracted disputes, causing commodity prices to continuously reverse …
Robusta London T1 / 2021 chart session on November 5, 2020
At the end of the session, Robusta coffee prices on ICE Europe – London reversed and increased. Futures for delivery in January increased 26 USD, to 1,339 USD / ton and futures for delivery in March increased 24 USD, to 1,350 USD / ton, the very significant increases. Trading volume remained very low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor reversed and increased. Futures for December delivery increased 2.95 cents, to 105.95 cents / lb and futures for March delivery rose 2.8 cents, to 108.45 cents / lb, the significant increases. Trading volume increased very high above average.
The price of coffee beans in the Central Highlands provinces increased by 400-500 VND, fluctuating in the frame of 32,400 – 33,000 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,470 USD / ton, FOB – HCM, with a difference plus 100 – 120 USD / ton in term of March in London.
Reais copper increased strongly by 1.96%, to stand at 1 USD = 5.5460 Reais reflecting market optimism about US presidential election results while states are still counting votes and the possibility that the Fed will There are new economic stimulus measures with USD interest rates still maintained at current levels. However, the market continues to show caution over the long-term effects caused by the second covid-19 pandemic.
According to traders, Robusta coffee prices are likely to recover stronger than Arabica due to the high demand of the instant coffee industry in the context of many countries having to implement social gap measures.
Vietnam’s Central Highlands coffee region has been continuously subjected to prolonged rains due to the impact of La Nina weather phenomenon, which makes the Robusta harvest this year still stagnant. While coffee futures prices on the London floor have not yet attracted investors, the trading volume is still very low.
English (giacaphe.com)
