Coffee Jul '10 (KCN10)
Coffee Futures Market News and Commentary
July arabica coffee (KCN26) on Wednesday closed down -5.90 (-2.04%), and July ICE robusta coffee (RMN26) closed up +35 (+1.04%).
Coffee prices on Wednesday settled mixed. Â Optimism that the US-Iran war could soon end and reopen the Strait of Hormuz weighed on coffee prices on Wednesday.
Strength in the Brazilian real is supportive of coffee prices, as the real (^USDBRL) fell to a 2.25-year high against the dollar on Wednesday. Â The stronger real discourages export sales from Brazil's coffee farmers. Â
Expectations of a larger Brazilian coffee crop are negative for prices. Â Last Thursday, the Coffee Trading Academy projected Brazil's 2026/27 coffee harvest will increase by 12% y/y to 71.4 million bags. Â 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). Â On March 12, StoneX raised its Brazil 2026/27 coffee production estimate to a record 75.3 million b... Read more
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