Robusta Coffee 10-T Jul '22 (RMN22)
Robusta Coffee 10-T Futures Market News and Commentary
September arabica coffee (KCU26) closed up +4.60 (+1.44%) on Tuesday, and September ICE robusta coffee (RMU26) closed up +68 (+1.80%).
Coffee prices settled higher on Tuesday as short covering emerged after an unexpected chance of rain was forecast for Minas Gerais, Brazil’s largest coffee-growing region, which could further delay the country’s coffee harvest.
Coffee prices sold off sharply on Monday as forecasts for drier conditions in Brazil’s coffee-growing regions bolstered the outlook for the pace of the country’s coffee harvest to pick up. Somar Meteorologia reported on Monday that no rain fell in the week ended August 2 in Minas Gerais.
The slow pace of Brazil’s coffee harvest is supportive of coffee prices. The harvest among members of Cooxupe co-op was 58.3% complete as of July 24, behind the year-earlier pace of 67%. 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... Read more
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