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Coffee Mar '19 (KCH19)

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Coffee Futures Market News and Commentary

Coffee Prices Close Higher with the Brazilian Real Just Below a 3-Month High

September arabica coffee (KCU19) on Tuesday closed up by +4.45 (+4.32%), and Sep ICE robusta coffee (RMU19) closed up +33 (+2.32%). Coffee prices rallied for a second day Tuesday and posted 2-1/2 week highs as strength in the Brazilian real against the dollar over the past week has fueled fund short covering in coffee futures. The real is just below Monday's 3-month high. A stronger real discourages export selling by Brazil’s coffee producers. Also, current coffee supplies have tightened after ICE-monitored coffee inventories dropped to an 8-3/4 month low of 2.377 mln bags Friday, down from March's 4-3/4 year high of 2.503 mln bags. Dry conditions in Brazil are a bearish factor for arabica prices since the dry weather should speed up the pace of the coffee harvest and drying of beans. Somar Meteorologia reported Monday that rainfall in Minas Gerais, Brazil's biggest arabica coffee growing region, was only 0.1 mm over the past week or 1% of the historical average. Coffee supplies in Brazil are ample after data from Conab last Tuesday showed Brazil coffee inventories held by companies and growers jumped +31.6% to 12.9 mln bags as of March 31, the most in three years. On the positive side was the USDA's bi-annual report on Jun 14 where the USDA projects global 2019/20 coffee production will fall -3.1% to 169.13 mln bags as Brazil's Arabica trees enter the off-year of the biennial production cycle. The USDA also projects that global 2019/20 coffee consumption will climb +2.5% to a record 167.92 mln bags, which will reduce global 2019/20 coffee ending stocks by -7.7% y/y to 33.545 mln bags.
  • Coffee Prices Look Bullish

    Looks to move higher

  • Livestock Report

    consolidation rules the day

  • Softs Report 06/25/19

    COTTON General Comments: Cotton was mostly a little higher as traders become more concerned about planting progress and crop development of this crop....

  • Livestock Report

    Hogs and Feeders tumble, Fats sleepy

  • Softs Report 06/24/19

    COTTON General Comments: Cotton was sharply lower for the week and traded to the lowest levels since 2016 as traders become more concerned about [...]

  • Livestock Report

    Hogs Limit Down

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