Arabica coffee prices in the New York floor had a jump “terrifying”, while the price of Robusta coffee on the London floor remained stable and stable when short-term speculation took profits.
Robusta London T1 / 2021 chart session on 11/27/2020
KAt the end of the last session of the week, Robusta coffee prices on ICE Europe – London increased. January spot futures increased by 2 USD, to 1,411 USD / ton and for March delivery also increased by 2 USD, to 1,413 USD / ton, the slight increase. Trading volume maintained at an average level.
In contrast, Arabica coffee prices on the ICE US – New York floor suddenly soared during the day Black Friday. March spot futures increased 7.05 cents, to 124.2 cents / lb and May futures rose 6.85 cents, to 125.85 cents / lb. extremely strong increase, rare. Trading volume is very high above average.
The price of coffee beans in the Central Highlands provinces increased slightly from 0 to 100 VND, up fluctuating in the frame of 32,900 – 33,400 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,483 USD / ton, FOB – HCM, with a difference plus 50-70 USD / ton in term of March in London.
Reais copper rose 0.18%, to stand at $ 1 = 5,3270 Reais amid low trading and weak liquidity of US stock exchanges right after the long Thanksgiving holiday and early closing in session Black Friday.
London coffee prices increased from the beginning of the session, but the increase could not be maintained due to short-term speculation taking profits. While New York coffee prices have added “Wrong button press” the second time in the last 7 days.
The first timeThe USDA’s Foreign Agriculture Agency (FAS) has forecast Brazil’s 2020/2021 coffee production to increase 14.5% to a record 67.9 million bags, while there are many forecasts. Currently, Brazil will lose revenue due to dry weather at the beginning of the new cotton crop. Coffee prices in New York fell from 121.93 cents / lb to 117.48 cents / lb, the drop lost 4.5 cents / lb immediately.
The second time, international trader Volcafe Ltd. forecast that Arabica coffee production in the 2021/2022 crop of Brazil will decrease by 33% compared to the previous crop to 34.2 million bags, not only because of Arabica coffee. “Lost year” of the cycle “Two years one” but due to the extreme dry weather in many growing regions and consequently the global Arabica market will face a shortage of 11 million bags this crop year. The price of coffee in New York has jumped from 117.15 cents / lb to 122.26 cents / lb, the jump soared to 5.11 cents / lb, making observers also “aghast”.
Will the London market have any leaps when Vietnam starts boosting Robusta coffee harvest and new crop output will also be revealed after many forecasts of slight decrease …
English (giacaphe.com)
