Robusta Coffee 10-T Futures Market News and Commentary
Dec arabica coffee (KCZ20) on Friday closed down -1.10 (-1.03%). Jan ICE Robusta coffee (RMF21) closed down -2 (-0.15%).
Coffee prices on Friday closed lower on demand concerns due to the resurgence of Covid infections throughout the world. Losses in robusta were limited by crop concerns in Vietnam.
Arabica coffee is attempting to hold above Wednesday's 3-month nearest-futures low. Surging Covid infections throughout the world may prompt governments to impose new stay-at-home measures that will curb coffee consumption and demand. Italy, on Friday, reported a record of 19,143 new Covid infections. France reported a record 41,622 new Covid cases Thursday as the government expanded a curfew with 46 million people told to stay home from 9 pm to 6 am. Also, new U.S. Covid cases exceeded 70,000 on Thursday for the first time since July. The Covid virus has now infected 42.117 million persons globally, with deaths exceeding 1.144 million.
Arabica coffee supplies remain... Read more