Coffee Mar '21 (KCH21)
Coffee Futures Market News and Commentary
Mar arabica coffee (KCH21) on Tuesday closed down -1.00 (-0.78%), and March ICE Robusta coffee (RMH21) closed up +5 (+0.37%).
Coffee prices on Tuesday settled mixed. Arabia coffee fell back on expectations of record Brazil coffee exports, along with weakness in the Brazilian real. Brazil's coffee cooperative Cooxupe on Tuesday said that it expects Brazil's 2021 arabica exports to jump +20% y/y to a record 6 mln bags.
The Brazilian real on Tuesday tumbled -0.99% to a 4-session low against the dollar and was bearish for coffee prices. Weakness in the real encourages export selling by Brazil's coffee producers.
Robusta coffee on Tuesday posted moderate gains after Vietnam's National Coffee Association said it estimates that Vietnam coffee production will drop -10% to -15% this year due to natural disasters and lower investment resulting from low prices. Vietnam is the world's biggest producer of robusta coffee.
Monday's data from... Read more
- Here Is My Coffee Trade
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