Coffee Futures Market News and Commentary
Sep arabica coffee (KCU20) this morning is down -0.90 (-0.80%), and Sep ICE Robusta coffee (DFU0) is down -3 (-0.22%).
Coffee prices this morning are weaker with arabica at a 1-1/2 week low on demand concerns and technical selling. Technical selling also pressured coffee price today after Sep Arabica coffee closed below its 200-day moving average on Monday.
Expectations for a faster pace for Brazil's coffee harvest is another bearish factor for coffee prices. Somar Meteorlogia said Monday that there was no rain in Mina Gerais in the past week, which should allow the acceleration of Brazil's coffee harvest.
A bearish factor for arabica coffee is an increase in coffee supplies from Colombia, the world's second-largest arabica producer. The Colombia Coffee Growers Federation last Wednesday reported Colombia Jul coffee exports rose +1% y/y to 1.133 mln bags.
Coffee prices last Wednesday rallied sharply with arabica at a 4-1/2 month high and robusta at an 8-mo... Read more