Coffee Futures Market News and Commentary
Dec arabica coffee (KCZ20) on Tuesday closed down -1.15 (-1.08%). Jan ICE Robusta coffee (RMF21) closed down -16 (-1.23%).
Coffee prices on Tuesday posted moderate losses, with arabica falling to a 3-month nearest-futures low. Arabica coffee remains under pressure on concern that the new lockdown measures imposed in some of Europe's biggest cities will curb coffee consumption and demand. Last Thursday, France imposed a curfew in 9 of its biggest cities between 9 p.m. and 6 a.m. for four weeks starting last Saturday, and Londoners will be banned from mixing with other households indoors.
Robusta coffee rallied to a 2-week high Monday on concern that heavy rain may delay the coffee harvest in Vietnam, the world's largest robusta coffee producer. A La Nina weather system is prolonging the rainy season in Vietnam's Central Highlands, the country's largest coffee-producing region. The wet weather is preventing coffee beans from ripening as Vietnam's Buon Ma Thuot Coffee Ass... Read more