Coffee futures markets weakened again when the US election disappointment did not go smoothly, with a potential for dispute.
Robusta London T1 / 2021 chart session on 11/04/2020
Ending the session, Robusta coffee prices on ICE Europe – London continued to decline for the third session. January spot futures dropped another 14 USD, down to 1,313 USD / ton and futures for March delivery also dropped by 14 USD, down to 1,326 USD / ton, the significant decreases. Trading volume remained very low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor reversed to decline. Futures for December delivery decreased 0.45 cents, down 103 cents / lb and futures for March delivery fell 0.4 cents, to 105.65 cents / lb, the significant reductions. Trading volume is quite high above average.
The price of coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to fluctuating in the frame of 31,900 – 32,500 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,446 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton in term of March in London.
Reais copper rose 1.83%, to stand at $ 1 = 5.7570 Reais in waiting for the results of the US election and concerns from the markets about the possibility of a dispute over being perceived as ignorant. White.
Coffee prices slumped on general market frustration as the US election was not going smoothly. Speculative capital flows back to stocks and hidden assets with the expectation that the Fed will ask the National Assembly to approve a new financing package which has not been agreed before.
Meanwhile, typhoon No. 10 is about to land on the Central Coast and will affect the Robusta coffee area in the Central Highlands of Vietnam. At the same time, the storm Eta is hitting the Arabica coffee growing countries in Central America is the concern of the world coffee market in these weekends.
English (giacaphe.com)
