Update coffee prices on October 15, 2020 – Coffee prices today

The support of the November options expiration date pushed London’s Robusta prices up sharply.

Robusta coffee prices increased sharply, Arabica coffee prices reversed and decreased on October 15.

Ending the session, Robusta coffee prices on the ICE Europe – London floor continued to reverse. Futures for immediate delivery in November increased 27 USD, to 1,250 USD / ton, futures for January delivery increased 26 USD, to 1,276 USD / ton and futures for March delivery increased 23 USD to 1,286 USD / ton; the increases are quite strong. Trading volume remained very high above average.

Robusta London T11 / 2020 chart session on October 14, 2020

Robusta London T11 / 2020 chart session on October 14, 2020

In contrast, Arabica coffee prices on the ICE US – New York floor reversed and decreased. Futures for December delivery fell 0.5 cents, to 109.6 cents / lb and futures for March delivery fell 0.4 cents, to 112.2 cents / lb, the levels down slightly. Trading volume fell to a moderate level.

Coffee prices on the London and New York trading floors on October 15, 2020

Coffee prices on the London and New York trading floors on October 15, 2020

The price of coffee beans in the Central Highlands provinces increased by 400-500 VND, up fluctuating in the frame of 30,900 – 31,400 VND / kg.

Export Robusta coffee price type 2, 5% broken black, stood at 1,406 USD / ton, FOB – HCM, with a difference plus 100 – 120 USD / ton in term of March in London.

Domestic coffee bean prices October 15, 2020

Domestic coffee bean prices October 15, 2020

Reais copper fell 0.39%, down to $ 1 = 5.6030 Reais as investors continued to react to the forex market with the perception that the new funding package would not be approved by the US Congress before election day the new president (November 3) and the experimental suspension of some covid-19 prophylactic vaccines have resulted in greater risk concerns.

Like most other derivatives markets, Robusta coffee prices in London also have support as November option expiration is near. Many investors need to liquidate, change positions, continue to bring the commercial volume of the contract delivered after the January 2021 term higher than the November 2020 spot term.

Significant rainfall is expected over the next week for most of the major coffee growing regions in southern Brazil, with the exception of the northern state of Espírito Santo which will experience less rainfall.

According to The Rio Times, Brazil’s agricultural exports are in a shipping crisis. Recorded last month, there was a shortage of 80,000 arrival containers compared to 251,000 outgoing containers. Coffee deliveries at the moment find it hard to find space to squeeze in, while Brazil accounts for 30% of the global coffee trade.

Anh Văn (giacaphe.com)

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