Coffee Jul '22 (KCN22)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Wednesday closed down -13.60 (-4.01%), and September ICE robusta coffee (RMU26) closed down -104 (-2.68%).
Coffee prices settled sharply lower on Wednesday as weakness in the Brazilian real induced long liquidation in coffee futures. The real (^USDBRL) dropped to a 2.5-week low against the dollar on Wednesday, which encourages export sales from Brazil’s coffee producers.Â
On Tuesday, coffee prices rallied to 2-week highs amid concern that heavy rain in Brazil will further disrupt the country’s coffee harvest and tighten global supplies. On Monday, Somar Meteorologia reported that 32.4 mm of rain, or 2700% of the historical average, fell in the week ended July 26 in Minas Gerais, Brazil’s biggest coffee-growing region.
The slow pace of Brazil’s coffee harvest is supportive of coffee prices. The harvest among members of Cooxupe co-op was 58.3% complete as of July 24, behind the year-earlier pace of 67%. On July 17, Safras & Mer... Read more
Barchart · 1 hour ago
October NY world sugar #11 (SBV26 ) on Wednesday closed down -0.05 (-0.34%), and October London ICE white sugar #5 (SWV26 ) closed up +1.60 (+0.35). Sugar...
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Barchart · 1 hour ago
September arabica coffee (KCU26 ) on Wednesday closed down -13.60 (-4.01%), and September ICE robusta coffee (RMU26 ) closed down -104 (-2.68%). Coffee...
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