Coffee Mar '22 (KCH22)
Coffee Futures Market News and Commentary
March arabica coffee (KCH2) this morning is down -5.00 (-2.05%), and Mar ICE Robusta coffee (RMH22) is down -20 (-0.90%).
Coffee prices this morning are moderately lower. Signs of increased farmer selling in Brazil have boosted coffee supplies and are weighing on prices after Safras & Mercado reported that Brazilian coffee farmers sold 32% of their 2022/23 coffee crop as of Jan 14, well above the 19% farmers sold a year earlier.
Arabica rallied to a 1-1/2 month high Wednesday on signs of smaller U.S. supplies after the Green Coffee Association reported that U.S. Dec green coffee inventories fell -2.4% y/y to 5.83 mln bags, a 6-month low. Arabica also has support from strength in the Brazilian real (^USDBRL) which rallied to a 3-1/2 month high against the dollar Thursday. A stronger real discourages export selling from Brazil's coffee producers.
Robusta posted a 1-3/4 month low Tuesday on signs the robusta supply situation was improving after the Vietnam Genera... Read more
- Cotton Ginnings
Cotton Ginnings - 2022-01-21
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