Robusta Coffee 10-T Jan '20 (RMF20)
Robusta Coffee 10-T Futures Market News and Commentary
December arabica coffee (KCZ26) closed down -13.35 (-3.98%) on Wednesday, and November ICE robusta coffee (RMX26) closed down -77 (-2.09%).
Coffee prices dropped to 1-week lows on Wednesday and settled sharply lower as the outlook for Brazil’s coffee harvest to put more supplies into the market has sparked long liquidation in coffee futures. Most warehouses in Brazil are no longer accepting new coffee supplies as space fills up, suggesting farmers holding back sales in hopes of higher prices will have to increase coffee sales as storage space dwindles. Robusta coffee is also under pressure after ICE robusta coffee inventories jumped to a 9-month high on Tuesday.
On Tuesday, arabica coffee posted a 7.5-month high and robusta posted a 2.5-week high due to the slow pace of Brazil’s coffee harvest. Brazil’s Cooxupe co-op reported on Wednesday that 87.5% of the harvest was complete as of Aug 21, up 6 points from the prior week but still down slightly from 91.3% a year earl... Read more
Barchart · 1 hour ago
October NY world sugar #11 (SBV26 ) closed up +0.32 (+1.85%) on Wednesday, and October London ICE white sugar #5 (SWV26 ) closed down -3.00 (-0.58%). Sugar...
Barchart · 1 hour ago
December ICE NY cocoa (CCZ26 ) closed up +2 (+0.03%) on Wednesday, and September ICE London cocoa #7 (CAU26 ) closed down -4 (-0.10%). Cocoa prices settled...
Barchart · 1 hour ago
December arabica coffee (KCZ26 ) closed down -13.35 (-3.98%) on Wednesday, and November ICE robusta coffee (RMX26 ) closed down -77 (-2.09%). Coffee prices...
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December ICE NY cocoa (CCZ26 ) is down -10 (-0.17%) today, and September ICE London cocoa #7 (CAU26 ) is down -7 (-0.19%). Cocoa prices are slightly lower...
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