Mar arabica coffee (KCH20) on Friday closed down -0.80 (-0.71%),
and Mar ICE Robusta coffee (DFH0) closed up +5 (+0.38%).
Coffee prices extended month long decline on Friday with arabica
coffee falling to a 1-3/4 month low. The outlook for a rebound in
Brazil coffee output is fueling fund selling of coffee futures
after Conab, Brazil government's forecasting agency, said Thursday
that it sees Brazil 2020/21 coffee production rising to 57.2-62.0
mln bags, up as much as +25.8% from 49.3 mln bags in 2019/20 as the
crop moves into the higher yielding half of its two-year cycle.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
JO - Watching but don't
Posted by racerick on 21st of Jan 2020 at 10:10 am
JO - Watching but don't be in a hurry. Coffee futures around 111 now, next support level around 107.50
Arabica Coffee Closes at a 1-3/4 Month Low on Fund Sellingby cmdtyNewswires- Fri Jan 17, 1:55PM CST
Mar arabica coffee (KCH20) on Friday closed down -0.80 (-0.71%), and Mar ICE Robusta coffee (DFH0) closed up +5 (+0.38%).
Coffee prices extended month long decline on Friday with arabica coffee falling to a 1-3/4 month low. The outlook for a rebound in Brazil coffee output is fueling fund selling of coffee futures after Conab, Brazil government's forecasting agency, said Thursday that it sees Brazil 2020/21 coffee production rising to 57.2-62.0 mln bags, up as much as +25.8% from 49.3 mln bags in 2019/20 as the crop moves into the higher yielding half of its two-year cycle.