Coffee Dec '23 (KCZ23)
Coffee Futures Market News and Commentary
September arabica coffee (KCU26) on Friday closed up +5.00 (+1.50%), and September ICE robusta coffee (RMU26) closed down -45 (-1.23%).
Coffee prices have support from the slow pace of Brazil's coffee harvest. Safras & Mercado reported Friday that the Brazil 2026/27 coffee harvest was 90% completed as of August 12, behind 97% last year and the 5-year average of 94%. Brazil's arabica coffee harvest was 86% complete, behind last year's 95%. Meanwhile, the harvest among members of Cooxupe co-op was 74.6% complete as of August 7, behind last year's comparable figure of 80.4%, according to a report released on Wednesday.
Coffee prices were mixed Friday as market participants assess the extent of disruptions to coffee exports from Colombia due to Monday's devastating earthquake. Among the areas hit by Monday's 7.4 magnitude quake were the coffee-growing provinces of Caldas and Risaralda, which account for about a quarter of Colombia's production.
Colombia has partial... Read more
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