The rise on the London floor stalled before the pull from the New York floor when the Brazilians were still strong in selling new sales.
Robusta London chart November 2020, session October 20, 2020
Ending the session, Robusta coffee prices on ICE Europe – London reversed and dropped. November spot futures dropped 15 USD, down to 1,265 USD / ton, January delivery term dropped 16 USD, to 1,289 USD / ton and March delivery term dropped 13 USD, to 1,298 USD / ton, the very decrease significantly. Trading volume is at medium level.
Similarly, Arabica coffee prices on the ICE US – New York floor had a fifth consecutive session. Futures for delivery in December fell 1.15 cents, down 104.9 cents / lb and futures for March delivery also dropped 1.15 cents, to 107.8 cents / lb, the significant reductions. Trading volume is above average.
The price of coffee beans in the Central Highlands provinces decreased by 200-300 VND, down to fluctuate in the frame of 31,300 – 31,800 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,418 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper decreased slightly by 0.05%, down to 1 USD = 5,6100 Reais when there were more optimistic signals about the new funding package that helped US stocks regain the green color. However, the market is still skeptical when the negotiation results have not been clearly announced, so the financial markets only fluctuate slightly.
Two-floor coffee prices fell with low trade volume, when speculation moved capital to seek shelter, avoiding possible instability right before and after the US presidential election. Reporting the widespread number of covid-19 infections has caused many large consumer markets to be forced to re-establish wider-scale social distancing measures in the context of vaccine production. prevention is still uncertain.
The Robusta coffee market is getting more attention, as the world’s largest producer continues to experience prolonged floods, as La Nina weather appearing on the Pacific Rim will cause a new harvest. may be delayed for several weeks.
English (giacaphe.com)
