Robusta Coffee 10-T Mar '24 (RMH24)
Robusta Coffee 10-T Futures Market News and Commentary
September arabica coffee (KCU26) today is up +17.00 (+5.24%), and September ICE robusta coffee (RMU26) is up +105 (+2.76%).
Coffee prices are sharply higher today for a second day and posted 2-week highs amid concern that heavy rain in Brazil will further disrupt the country’s coffee harvest and tighten global supplies. On Monday, Somar Meteorologia reported that 32.4 mm of rain, or 2700% of the historical average, fell in the week ended July 26 in Minas Gerais, Brazil’s biggest coffee-growing region.
The slow pace of Brazil’s coffee harvest is supportive of coffee prices. The harvest among members of Cooxupe co-op was 47.3% complete as of July 17, behind the year-earlier pace of 59%. On July 17, Safras & Mercado reported that Brazil’s 2026/27 coffee harvest was 64% complete as of July 15, behind last year’s comparable level of 77% and the five-year average of 70%.
Rising inventories are weighing on robusta coffee as ICE robusta inventories climbed to a 4.25-mo... Read more
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