Coffee Mar '19 (KCH19)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Monday closed down -0.80 (-0.30%), and July ICE robusta coffee (RMN26) closed down -51 (-1.40%).
Coffee prices were under pressure on Monday, with robusta falling sharply to a 1-week low. Coffee prices are sliding on expectations that drier weather in Brazil will allow the country’s coffee harvest to resume.Â
The reopening of the Strait of Hormuz eases supply disruptions and is bearish for prices. The reopening of the Strait should begin to lower global shipping rates, insurance, fertilizer, and fuel costs, thereby lowering costs for coffee importers and roasters.Â
Last Thursday, coffee prices rallied to 5-week highs amid persistent rain in Brazil, which has delayed the coffee harvest.Â
ICE coffee inventories have trended lower over the past three months, which is supportive of coffee prices. ICE arabica coffee inventories fell to a 2.25-year low of 393,937 bags on Monday. Meanwhile, ICE robusta inventories fell to a 2-ye... Read more
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