Coffee Dec '18 (KCZ18)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Tuesday closed down -3.90 (-1.18%), and September ICE robusta coffee (RMU26) is up +15 (+0.39%).
Coffee prices settled mixed on Tuesday. Since posting 5.5-month highs last week, coffee prices have whipsawed in a wide range below those highs amid illiquid trading conditions, leading to volatile price moves.Â
Strength in the Brazilian real (^USDBRL) is supportive for coffee prices as the real climbed to a 3.5-week high against the dollar on Tuesday, discouraging export sales from Brazil’s coffee producers.
Price volatility in coffee markets is exacerbated by illiquid trading conditions. After Intercontinental Exchange (ICE) raised margin requirements for coffee futures trading twice last week, liquidity has dried up, prompting many commodity funds to close their positions and leading to excessive one-way price moves.Â
An excessively long position in ICE robusta coffee by funds can exacerbate any price downturn. Last Friday... Read more
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