Coffee Jul '24 (KCN24)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Monday closed up +48.75 (+16.19%), and September ICE robusta coffee (RMU26) closed up +328 (+8.83%).
Coffee prices catapulted higher on Monday, with arabica posting a 5.5-month high and robusta reaching a 5-month high amid a delayed coffee harvest in Brazil. Safras & Mercado reported on Monday that Brazil’s 2026/27 coffee harvest is 52% complete as of July 1, behind last year’s comparable level of 60% and the five-year average of 55%.
Gains in coffee accelerated on Monday after meteorologist Rural Clima said rain is forecast for a large part of Brazil in the middle of July, which could be “detrimental” to crops, including coffee. Also, Monday’s rally in the Brazilian real (^USDBRL) to a 2-week high against the dollar discourages coffee sales from Brazil’s coffee producers and is supportive for prices.
Coffee prices have moved sharply higher over the past month as heavy rains in Brazil have disrupted fieldwork and may have low... Read more
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