Reais Brasil copper was still low, US stocks continuously reversed before new presidential election, contributing to mixed weather information in Vietnam and Brazil that caused coffee futures prices to fluctuate …
Robusta London T1 / 2021 week chart 43 (October 19, 2020 – October 24, 2020)
For the whole week 43, London market had 2 gaining sessions and 3 decreasing sessions. Robusta coffee futures for immediate delivery in January increased all 8 USD, ie up 0.62%, to 1,305 USD / ton and futures for delivery in March increased all 7 USD, ie increased by 0.54%, to 1,313 USD / ton, slight increases. Trading volume is above average.
On the contrary, New York market had 1 gaining session and 4 losing sessions. Arabica coffee futures for immediate delivery in December decreased all 1.65 cents, or 1.54%, down to 105.6 cents / lb and futures for delivery in March decreased by all 1.6 cents, or 1, 45%, to 108.4 cents / lb, slight decreases. Trading volume is above average.
The price of coffee beans in the Central Highlands market increased by 200-300 VND, up fluctuating in the frame 31,500 – 32,100 VND / kg.
Prices of two-floor coffee futures continued to be mixed, decreased in New York and increased in London. The main reason is still the Reais Brasil continued to decline, becoming the leading devaluation currency in the world. This has caused global agricultural prices to continue to stand at very low levels, especially key commodities of Brazil such as sugar cane, coffee …
However, the upcoming US presidential election on November 3 and the second outbreak of covid-19 are the focus of the markets at this time.
Weather news at the two leading producers such as drought in the southeast Brassil and floods in Vietnam due to the negative impact of La Nina weather phenomenon on the Pacific Rim is of concern. big investors in the last months of the year.
The latest Trader Commitment Report (CFTC) from New York’s Arabica coffee market shows that the non-commercial speculators have increased their net buying position by 0.02%, for the trade week to Thursday. Three days 13/10, up to register net buying of 20,303 lots, equivalent to 5,755,811 bags. This net long position is most likely to have dropped slightly again after a period of mixed trade but has been somewhat weaker since then.
The latest CFTC report from Robusta coffee market in London shows that, by the same reporting period, short-term speculation of money management funds has converted their net buying position to registered net sale at 6,600 lots, is equivalent to 1,100,000 bags and will most likely change only slightly after the mixed-commercial period but to be somewhat more positive since then.
As of Monday, October 19, inventories of Robusta coffee certified and tracked by London floor increased 5,190 tons, or 4.79% compared to the previous trading week, to register at 113,430 tons ( equivalent to 1,890,500 bags, 60 kg bags).
Notification:
From Monday, October 26, markets will switch to winter time trading. Specifically:
London market: Open 16:00 – close 0:30 am.
New York Market: Open 16.15 ‘- closed at the same time. After November 2, it will close at 1:30 am.
English (giacaphe.com)
