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Robusta Coffee 10-T Jul '23 (RMN23)
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Robusta Coffee 10-T Futures Market News and Commentary

Coffee Prices Settle Sharply Higher as an El Nino Weather Pattern Develops

July arabica coffee (KCN23) on Thursday closed up +9.45 (+5.10%), and July ICE robusta coffee (RMN23) closed up +86 (+3.22%).

Coffee prices Thursday settled sharply higher, with arabica posting a 3-week nearest-futures high and robusta posting a 2-week high.  Fund buying fueled a surge in coffee prices Thursday as an El Nino weather event has begun, which could undercut global coffee production.  The U.S. Climate Prediction Center said Thursday that sea surface temperatures across the equatorial Pacific Ocean had risen 0.5 degrees Celsius above normal, and wind patterns have changed to the point where El Nino criteria have been met.  An El Nino pattern typically brings heavy rains to Brazil and drought to India, negatively impacting coffee crop production.  

A slump in the dollar index (DXY00) Thursday to a 2-week low is bullish for coffee prices.  Also, smaller ICE arabica inventories are supportive as ICE arabica coffee inventories have steadily declined over the past... Read more

Contract Specifications

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Contract
Robusta Coffee 10-Tonnes
Contract Size
10 metric tonnes
Tick Size
$1 per metric tonne ($10.00 per contract)
Trading Hours
9:00a.m. - 5:30p.m. GMT
Exchange
ICE/EU
Point Value
$10
Expiration Date
07/25/23 (47 days)

Seasonal Chart

Robusta Coffee 10-T Jul '23
Average Price Chart for 5 Prior Jul Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
2,385 +15.72%
on 05/12/23
2,769 -0.33%
on 06/08/23
+289 (+11.70%)
since 05/05/23
3-Month
2,015 +36.97%
on 03/20/23
2,769 -0.33%
on 06/08/23
+612 (+28.49%)
since 03/08/23
52-Week
1,744 +58.26%
on 01/11/23
2,769 -0.33%
on 06/08/23
+683 (+32.88%)
since 06/08/22

More Robusta Coffee 10-T Quotes

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Most Recent Stories

More News
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With the exception of July’s 70 point loss, cotton futures settled higher ahead of the USDA report day. Dec contracts were up by 40 points at the close, tightening the inverse to 2.68 cents. So far through...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Dollar Weakness and El Nino Spark Fund Buying in Cocoa Futures

July ICE NY cocoa (CCN23 ) on Thursday closed up +46 (+1.48%), and July ICE London cocoa #7 (CAK23 ) closed up +23 (+0.96%). Cocoa prices Thursday extended this week's rally to 1-month nearest-futures...

CCU23 : 3,137s (+1.49%)
CAU23 : 2,391s (+0.97%)
DXY00 : 103.313 (-0.03%)
Coffee Prices Settle Sharply Higher as an El Nino Weather Pattern Develops

July arabica coffee (KCN23 ) on Thursday closed up +9.45 (+5.10%), and July ICE robusta coffee (RMN23 ) closed up +86 (+3.22%). Coffee prices Thursday settled sharply higher, with arabica posting a 3-week...

KCU23 : 190.35s (+4.76%)
RMU23 : 2,726s (+3.41%)
DXY00 : 103.313 (-0.03%)
Sugar Prices Surge on Global Weather Concerns

July NY world sugar #11 (SBN23 ) on Thursday closed up +0.98 (+4.00%), and Aug London white sugar #5 (SWQ23 ) closed up +19.60 (+2.93%). Sugar prices Thursday rallied sharply, with NY sugar posting a 1-week...

SBN23 : 25.48s (+4.00%)
SWQ23 : 688.80s (+2.93%)
Dollar Weakness and El Nino Spark Fund Buying in Cocoa Futures

July ICE NY cocoa (CCN23 ) on Thursday closed up +46 (+1.48%), and July ICE London cocoa #7 (CAK23 ) closed up +23 (+0.96%). Cocoa prices Thursday extended this week's rally to 1-month nearest-futures...

CCU23 : 3,137s (+1.49%)
CAU23 : 2,391s (+0.97%)
DXY00 : 103.313 (-0.03%)
Mixed Midday for Cotton Market

July cotton is 24 points in the red at midday. The other front months are working higher with 40 to 47 point gains. July is still a 312 point premium to the new crop Dec contract. USDA reported 480,399...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Coffee Prices Surge as an El Nino Weather Pattern Develops

July arabica coffee (KCN23 ) this morning is up +9.00 (+4.85%), and July ICE robusta coffee (RMN23 ) is up +83 (+3.10%). Coffee prices this morning are sharply higher, with arabica posting a 3-week nearest-futures...

KCU23 : 190.35s (+4.76%)
RMU23 : 2,726s (+3.41%)
Cocoa Consolidation

Cocoa prices continue to consolidate at over $3,000 per ton. The soft commodity is the latest to join the bullish party in a sector that has led the commodities asset class over the past year.

CCN23 : 3,149s (+1.48%)
ICE : 110.60 (+2.10%)
NIB : 36.29 (+1.65%)
Cotton Gaining into Export Sales Data

Cotton is trading a point to 96 points higher this morning ahead of the USDA Export Sales report. Cotton worked lower on the midweek session, but closed 40 points to a penny off the session lows. July...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)
Cotton Closes Red on Wednesday

Cotton worked lower on the midweek session, but closed 40 points to a penny off the session lows. July went home at a 33 point loss, and is now down a net 104 points for the week’s move. July was a 3.78...

CTN23 : 84.31s (-0.82%)
CTV23 : 83.95s (+0.39%)
CTZ23 : 81.63s (+0.49%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 2,891
2nd Resistance Point 2,830
1st Resistance Point 2,795
Last Price 2,760s
1st Support Level 2,699
2nd Support Level 2,638
3rd Support Level 2,603

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52-Week High 2,769
Last Price 2,760s
Fibonacci 61.8% 2,377
Fibonacci 50% 2,257
Fibonacci 38.2% 2,136
52-Week Low 1,744

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