Robusta Coffee 10-T Sep '23 (RMU23)
Robusta Coffee 10-T Futures Market News and Commentary
September arabica coffee (KCU26) on Friday closed down -3.20 (-1.16%), and September ICE robusta coffee (RMU26) closed down -35 (-0.96%).
Coffee prices settled lower on Friday on forecasts for drier weather in Brazil next week, which should allow for the resumption of the country’s coffee harvest.Â
Coffee prices have moved higher this week, with robusta posting a 4-month high on Thursday and arabica posting a 7-week high on Wednesday. Recent heavy rains in Brazil have delayed the country’s coffee harvest, pushing prices higher. Meteorologist Climatempo said a cold front has supported rainfall over southern Brazil this week, with more than 50 millimeters (2 inches) expected, which has limited field activities and potentially lowered the quality of the coffee crop.Â
ICE coffee inventories have trended lower over the past three months, which is also supportive of coffee prices. ICE arabica coffee inventories fell to a 2.25-year low of 382,084 bags on Friday. Meanwh... Read more
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