Coffee May '20 (KCK20)
Coffee Futures Market News and Commentary
May arabica coffee (KCK20) on Monday closed up +3.45 (+2.98%), and May ICE Robusta coffee (DFK0) closed down -6 (-0.50%).
Coffee prices on Monday settled mixed with robusta coffee at a 1-1/2 week low. Supply concerns are giving arabica coffee a boost as U.S. coffee supplies in storage are dwindling after the news that ICE-monitored coffee inventories fell to a 1-3/4 year low last Friday of 2.008 mln bags.
Concern about supply disruptions in South America are also supporting coffee prices. Brazil's Sao Paulo state began a 15-day quarantine last Tuesday, Columbia put its entire population on a 3-week lockdown, and El Salvador ordered the closure of all non-essential businesses through April 3. Coffee-trader Volcafe told clients that the coronavirus pandemic is causing logistical holdups that will become "more widespread" in major coffee-producing countries, which may delay coffee shipments to ports and other transport operations. Also, Rabobank on Monday said the expecte... Read more
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