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Robusta Coffee 10-T May '19 (RMK19)

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Robusta Coffee 10-T Futures Market News and Commentary

Coffee Prices are Weighed Down by Ample Supply

May arabica coffee (KCK19) this morning is down -1.90 (-1.97%) and May ICE robusta coffee (RMK19) is down -21 (-1.39%). May arabica coffee tumbled to a new contract low today and May robusta is just above Friday's contract low on ample coffee supplies and rain in Brazil. ICE-monitored coffee inventories climbed to a 4-1/2 year high of 2.5 mln bags on Tuesday and CeCafe reported last Wednesday that Brazil Feb arabica coffee exports jumped +40.5% y/y to 3.1 mln bags. Also, abundant rainfall in Brazil is benefiting Brazil's coffee crops after data from Somar Meteorologia on Monday showed that rainfall in Minas Gerais, Brazil's largest arabica coffee growing region, measured 56.8 mm in the past week, or 131% of the historical average. Another negative today is weakness in the Brazilian real against the dollar, which encourages exports by Brazil's coffee producers. A positive factor for coffee was last Friday's data from the Green Coffee Association that showed U.S. Feb green coffee inventories fell -4% y/y to 6.26 mln bags. A positive factor for robusta coffee is smaller robusta supply after recent data from Vietnam's Department of Customs showed that Vietnam Jan-Feb coffee exports fell -10.1% y/y to 317,148 MT.
  • Coffee Prices Stuck In 3 Week Consolidation

    Looking to buy

  • Softs Report 03/19/19

    COTTON General Comments: Cotton was lower yesterday and could not take out some important resistance areas near 76.00 May. Market bulls will try to [...]...

  • Cotton Is Ready to Explode

    I believe cotton futures are ready to rally strongly throughout the next 3-6 months, maybe longer overall.

  • Softs Report 03/18/19

    COTTON General Comments: Cotton was higher again last week. The daily charts for May futures show that the prices faded from resistance near 7600 [...]...

  • Coffee Market, How Low is Low?

    Funds too short? Production lower? Market continues weaker!

  • Softs Report 03/15/19

    COTTON General Comments: Cotton was lower on some speculative selling after failing to take out resistance at about 76.00 May on the daily charts. [...]...

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