Despite rain forecast for major coffee regions in southern Brazil, previous dry weather that damaged early blooms was inevitable, according to agronomists at the Cocatrel Center. Belong to Conab – Brazil.
Robusta London chart 11/2020 session on October 13, 2020
Ending the session, Robusta coffee prices on ICE Europe – London continued to decline. November spot futures dropped another 10 USD, down to 1,223 USD / ton, January delivery term dropped another 5 USD, to 1,250 USD / ton and March delivery term dropped by 8 USD, to 1,263 USD / ton. slight decrease. Trading volume is very high above average.
In contrast, Arabica coffee prices on the ICE US – New York floor reversed and increased. Futures for December delivery increased 0.95 cents, to 110.1 cents / lb and for March futures rose 1.1 cents, to 112.6 cents / lb, the significant increases. Trading volume remained quite high above average.
The price of coffee beans in the Central Highlands provinces decreased by 100 VND, down fluctuating in the frame of 30,400 – 30,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,383 USD / ton, FOB – HCM, with a difference plus 100 – 120 USD / ton in term of March in London.
Reais copper fell 0.97%, to $ 1 = 5.5810 Reais due to concerns about risks from the foreign exchange market and increased public debt when the Government of Brazil was able to overspend. While USDX rebounded before the increase in social gap and the US economic stimulus package did not make any significant progress.
Arabica coffee prices in New York rebounded as major coffee growing regions in southern Brazil did not have as much rain as forecast, raising concerns about a significant drop in next year’s crop output.
Robusta coffee prices in London continue to weaken as the EU market expands social and possibilities gap Brexit no deal seems to have made it clearer.
According to data reported by the General Department of Vietnam Customs, coffee exports in September reached 99,735 tons (equivalent to 1,662,250 60-kg bags), down 0.5% from the previous month, bringing coffee exports for the whole year. crop 2019/2020 totaled 27.31 million bags, down 3.73% compared to the previous crop year.
According to observers, although Vietnam’s Robusta coffee exports have declined, they have been compensated by Brazil’s Conilon production this year, while the global consumption is somewhat weaker due to the covid- pandemic. 19 spread everywhere causing the trade of many markets to stall.
According to analysts, although the technique shows that the market has been oversold, but London speculators still increase pressure as soon as Vietnam enters a new harvest, which often happens …
English (giacaphe.com)
