Arabica Coffee 4/5 Jul '24 (XFN24)
Arabica Coffee 4/5 Futures Market News and Commentary
May arabica coffee (KCK26) on Wednesday closed up +7.95 (+2.78%), and May ICE robusta coffee (RMK26) closed up +13 (+0.39%).
Coffee prices recovered from early losses on Wednesday and moved higher as short covering emerged when the Brazilian real (^USDBRL) rallied to a 23-month high against the dollar. The stronger real discourages export sales from Brazil's coffee producers.
Coffee prices initially moved lower on Wednesday, extending Tuesday's losses, with arabica falling to a 3-week low and robusta dropping to an 8-month nearest-futures low. Coffee prices have retreated over the past two weeks amid expectations of a record Brazilian coffee crop. On March 19, Marex Group Plc projected a record 2026/27 Brazil coffee crop of 75.9 million bags, even higher than Sucafina's forecast of 75.4 million bags, up +15.5% y/y. On March 12, StoneX raised its Brazil 2026/27 coffee production estimate to a record 75.3 million bags, up from a November estimate of 70.7 million bags.... Read more
Barchart Thu Apr 9, 7:24AM CDT
Cotton price action is down 11 to 34 points early on Thursday. Futures closed Wednesday with mixed action as contracts were anywhere from 38 points higher...
Barchart Wed Apr 8, 4:18PM CDT
Cotton futures closed Wednesday with mixed action as contracts were anywhere from 38 points higher to 20 points lower. The US dollar index was $0.832 lower...
Barchart Wed Apr 8, 1:31PM CDT
May NY world sugar #11 (SBK26 ) on Wednesday closed down -0.35 (-2.40%), and May London ICE white sugar #5 (SWK26 ) closed down -6.40 (-1.49%). Sugar prices...
Barchart Wed Apr 8, 1:29PM CDT
May ICE NY cocoa (CCK26 ) on Wednesday closed up +168 (+5.55%), and May ICE London cocoa #7 (CAK26 ) closed up +61 (+2.62%). Cocoa prices settled sharply...
Barchart Wed Apr 8, 1:27PM CDT
May arabica coffee (KCK26 ) on Wednesday closed up +7.95 (+2.78%), and May ICE robusta coffee (RMK26 ) closed up +13 (+0.39%). Coffee prices recovered...
Barchart Wed Apr 8, 12:29PM CDT
Cotton futures are trading with contracts up 32 points in nearby May and other contracts down 2 to 10 points. The US dollar index is $1.042 lower at $98.640....
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