The stimulus package has not been approved by the US Congress yet, the second outbreak of disease has caused many major markets to close again, the covid-19 room drug is still uncertain … making many markets. There was a lack of commodity investors, while the futures markets also had concerns about oversupply.
Robusta London T11 / 2020 chart week 39 (from September 21, 2020 – September 26, 2020)
For the whole week 39, London market had 3 gaining sessions and 2 decreasing sessions. Robusta coffee futures for delivery in November increased all 2 USD, ie increased 0.15%, to 1,358 USD / ton and futures for January delivery increased all 4 USD, or up 0.29%, to 1,376 USD. / ton, slight increases. Trading volume is at medium level.
Meanwhile, New York market had 3 gaining sessions and 2 decreasing sessions. Arabica coffee futures for immediate delivery in December increased all 0.15 cents, or 0.13%, to 113.65 cents / lb, while futures for delivery in March decreased all 0.1 cent, ie decreased. 0.09%, to 115.2 cents / lb, slight increases / decreases. Trading volume is quite high above average.
The price of coffee beans in the Central Highlands market increased from 0 to 100 VND, up to fluctuate in the frame of 31,800 – 32,400 VND / kg.
Two-floor coffee prices corrected slightly after the change “panic” temporary of the previous week, when it was announced that the warehouse of the businessmen had no room to store coffee as the problem was raised in the news Summary of coffee market week 38.
USDX strengthened again after the recovery of US technology stocks and market concern about the economic stimulus package still stuck in the US Congress, even though the Fed Chairman deemed it necessary to recover the economy. the US economy after the covid-19 pandemic is more certain.
Coffee prices continue to fluctuate at low levels when many major economies of the world have a second outbreak of disease, especially in the EU market with many countries reestablishing social gap measures, while this is the market. has the largest coffee consumption in the world with about 1 million bags / week.
As of Monday, September 21, inventories of Robusta coffee certified and tracked by the London floor have decreased by 450 tons, or 0.41% from the previous trading week, to registration at 109,560 tons. (equivalent to 1,826,000 bags, 60 kg bags).
As of Thursday 24/9, inventories of Arabica coffee certified by the New York Commodity Exchange have decreased by 1,122 bags, or 0.1% from a day earlier, to registration at 1,103,566 bags (approx. 66,214 tonnes), of which 93.7% of these certified numbers are located in European warehouses respectively 1,034,178 bags and the rest 6.3% in the US, or 69,388 bags respectively.
English (giacaphe.com)
