Coffee Mar '22 (KCH22)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) is up +0.85 (+0.25%), and September ICE robusta coffee (RMU26) is down -36 (-0.95%).
NY arabica coffee prices are mildly higher and are consolidating below Tuesday’s 1-month high.
Arabica rallied on Tuesday amid concerns that a massive earthquake that hit Colombia on Monday will disrupt coffee exports from the country, the world’s second-largest producer of arabica coffee beans. Among the areas hit by Monday’s 7.4 magnitude quake were the coffee-growing provinces of Caldas and Risaralda, which account for about a quarter of Colombia’s production. Also, shipping firm Maersk said Tuesday that terminal operations in Buenaventura, which handles most of Colombia’s coffee exports, have been “temporarily suspended” and that inland road closures and traffic restrictions because of the earthquake may impact cargo movements.
Rising inventories are bearish for robusta coffee as ICE robusta inventories climbed to a 4.75-month high of 4,352 l... Read more
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