Coffee Jul '23 (KCN23)
Coffee Futures Market News and Commentary
July arabica coffee (KCN26) on Monday closed down -6.40 (-2.17%), and July ICE robusta coffee (RMN26) closed down -55 (-1.58%).
Coffee prices settled sharply lower on Monday amid expectations of abundant global coffee supplies ahead of the upcoming Brazilian coffee harvest.
Last Tuesday, arabica coffee fell to a 1.75-month low amid expectations of a record Brazilian coffee crop. 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 million bags. Meanwhile, StoneX projected the 2026 global coffee surplus will expand to 10 million bags from 1.8 million bags in 2025, the biggest surplus in 6 years.
Soaring coffee exports from Vietnam, the world's largest robusta producer, are bearish for robusta prices. On April 3, V... Read more
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