Robusta Coffee 10-T May '20 (RMK20)
Robusta Coffee 10-T Futures Market News and Commentary
May arabica coffee (KCK20) on Tuesday closed up +0.25 (+0.21%), and May ICE Robusta coffee (DFK0) closed down -17 (-1.41%).
Coffee prices on Tuesday settled mixed with robusta coffee at a 3-week low on reduced concerns about supply disruptions. Data from the ICE Exchange shows 40,157 bags of coffee pending grading on Monday, a sign of stronger supplies.
The ongoing coronavirus pandemic has raised concerns about supply disruptions in South America. Brazil's Sao Paulo state began a 15-day quarantine last Tuesday, Columbia put its entire population on a 3-week lockdown, and El Salvador ordered the closure of all non-essential businesses through April 3. Coffee-trader Volcafe told clients that the coronavirus pandemic is causing logistical holdups that will become "more widespread" in major coffee-producing countries, which may delay coffee shipments to ports and other transport operations. Also, Rabobank on Monday said the expected peak of the coronavirus pandemic in Braz... Read more
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