Coffee Mar '22 (KCH22)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Thursday closed down -0.80 (-0.29%), and September ICE robusta coffee (RMU26) closed up +57 (+1.58%).
Coffee prices settled mixed on Thursday, with robusta up sharply at a 4-month high. Arabica coffee closed lower on Thursday as prices consolidated below Wednesday’s 6-week high. Renewed rains in Brazil are delaying the country’s coffee harvest and pushing prices higher. Meteorologist Climatempo said a cold front is supporting rainfall over southern Brazil, with more than 50 millimeters (2 inches) expected through this week, which will limit field activities and potentially lower the quality of the coffee crop.Â
ICE coffee inventories have trended lower over the past three months, which is also supportive of coffee prices. ICE arabica coffee inventories fell to a 2.25-year low of 385,191 bags on Thursday. Meanwhile, ICE robusta inventories fell to a 2-year low of 3,631 lots on May 15 but jumped to a 2.25-month high of 4,032 lots las... Read more
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