Coffee Sep '19 (KCU19)
Coffee Futures Market News and Commentary
July arabica coffee (KCN26) on Monday closed up +5.75 (+2.24%), and July ICE robusta coffee (RMN26) closed up +13 (+0.360%).
Coffee prices on Monday extended last week’s rally, with arabica posting a 2-week high and robusta posting a 5-week high.  Coffee prices are supported by concerns that persistent rain in Brazil will delay the coffee harvest. Forecaster Vaisala said moderate to heavy rainfall is forecast across Brazil’s coffee-growing regions this week.
ICE coffee inventories have trended lower over the past three months, which is supportive of coffee prices. ICE arabica coffee inventories fell to a 6.75-month low of 398,940 bags last Friday. Meanwhile, ICE robusta inventories fell to a 2-year low of 3,631 lots on May 15 and were moderately above that level on Monday at 3,857 lots.
Concerns that an El Niño weather pattern could hurt Brazil’s coffee crop next year are supportive for prices. Coffee trader Commercial said the El Niño weather pattern may delay... Read more
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