Robusta Coffee 10-T Sep '18 (RMU18)
Robusta Coffee 10-T Futures Market News and Commentary
May arabica coffee (KCK26) on Friday closed up +6.40 (+2.18%), and May ICE robusta coffee (RMK26) closed up +14 (+0.42%).
Coffee prices settled higher on Friday, with arabica posting a 1-week high and robusta rebounding from an 8.5-month nearest-futures low. Â Strength in the Brazilian real boosted coffee prices as the real (^USDBRL) jumped to a 2-year high against the dollar on Friday. Â The stronger real discourages export sales from Brazil's coffee producers.
Tightness in robusta coffee supplies is supportive for robusta prices. Â ICE robusta inventories fell to a 1.25-year low of 3,977 lots on Friday. Â However, rising ICE inventories are also pressuring arabica coffee prices as ICE-monitored arabica inventories rose to a 6.25-month high of 585,621 bags on March 18.
The closure of the Strait of Hormuz has disrupted global shipping and tightened global coffee supplies. Â The closure of the waterway has increased global shipping rates, insurance, and fuel costs, and r... Read more
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