Robusta Coffee 10-T Sep '20 (RMU20)
Robusta Coffee 10-T Futures Market News and Commentary
Sep arabica coffee (KCU20) on Friday closed up +3.60 (+3.12%), and Sep ICE Robusta coffee (DFU0) closed up +4 (+0.30%).
Sep Arabica coffee prices on Friday rallied sharply on continued technical buying, with the contract extending its 2-week rally to a new 3-1/4 month high. Robusta coffee closed just mildly higher after seeing some long liquidation pressure from Thursday's 7-1/4 month high.
Nestle SA on Thursday reported stronger-than-expected coffee sales amid strong demand for coffee in home offices, and Nespresso on Thursday said it had mid-single-digit growth in Q2 on strong demand for instant coffee. Worldwide lockdowns that have shuttered restaurants and cafes have led to increased coffee home consumption and have boosted demand for robusta beans, typically favored for home coffee brewing.
Demand optimism has fueled a 2-week long rally in coffee futures. The CEO of Starbucks on Wednesday said in a conference call Wednesday that the company's U.S. comparabl... Read more
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