Coffee Mar '23 (KCH23)
Coffee Futures Market News and Commentary
July arabica coffee (KCN26) on Friday closed down -8.65 (-3.15%), and July ICE robusta coffee (RMN26) closed down -78 (-2.19%).
Coffee prices settled sharply lower on Friday, with arabica falling to a 1-week low.  Prices retreated on Friday after updated weather forecasts called for dry conditions next week in Brazil’s coffee-growing regions, allowing the coffee harvest to resume after being delayed this week by heavy rains. Â
Coffee prices have ratcheted lower over the past month, with arabica falling to a 1.5-year nearest-futures low last Tuesday, amid an improved global supply outlook.  On May 7, the Coffee Trading Academy projected Brazil’s 2026/27 coffee harvest will increase by 12% y/y to 71.4 million bags.  On March 19, Marex Group Plc projected a record 2026/27 Brazilian coffee crop of 75.9 million bags, surpassing Sucafina’s forecast of 75.4 million bags (+15.5% y/y).  On March 12, StoneX raised its Brazil 2026/27 coffee production estimate to a record 75.3 mill... Read more
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