Coffee Futures Market News and Commentary
Sep arabica coffee (KCU20) on Monday closed up +1.25 (+1.28%). Sep ICE Robusta coffee (DFU0) closed up +27 (+2.26%).
Coffee prices on Monday recovered from early losses and closed higher. Arabica coffee rebounded from a 2-week low and closed higher on tightness in current coffee supplies. ICE-monitored arabica coffee inventories on Monday fell to a 2-3/4 year low of 1.621 mln bags.
Robusta coffee posted a 1-month high Monday on news of reduced exports from Vietnam, the world's biggest robusta coffee producer. Monday's data from the General Department of Vietnam Customs showed that Vietnam's June coffee exports fell -11.5% y/y to 127,700 MT. However, Jan-Jun Vietnam coffee exports are up +2.2% y/y at 941,057 MT. The USDA's Foreign Agricultural Service (FAS) on June 10 forecasted that Vietnam's 2020/21 coffee production would fall -3.5% y/y to 30.2 mln bags. Gains in robusta coffee accelerated on tighter current supplies after ICE-monitored robusta coffee inventories on... Read more