Coffee May '24 (KCK24)
Coffee Futures Market News and Commentary
July arabica coffee (KCN26) on Tuesday closed down -1.40 (-0.54%), and July ICE robusta coffee (RMN26) closed up +24 (+0.70%).Â
Coffee prices settled mixed on Tuesday, with arabica falling to a 1.5-year nearest-futures low.  Coffee prices are under pressure amid weather forecasts calling for drier conditions this week in Brazil’s coffee-growing regions, which would allow the coffee harvest to resume after being delayed last week by heavy rains.
Coffee prices have ratcheted lower over the past five weeks 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 million bags, up from a November estimate of 70.7 m... Read more
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