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Barchart
Barchart
Rich Asplund

UNCOVERED: Robusta coffee climbs on smaller global supplies | History Defined

Ice Brazil Vietnam the USDA FAS ICO USDA Volcafe

September arabica coffee (KCU24) today is down -1.65 (-0.67%), and Sep ICE robusta coffee (RMU24) is up +37 (+0.79%).

Coffee prices today are mixed, with robusta posting a 4-week nearest-futures high.  Robust coffee exports from Brazil are bearish for arabica coffee prices.  The Brazilian Trade Ministry reported on August 7 that Brazil's July coffee exports rose +44% y/y to 202,000 MT.  Also, Cecafe reported on July 11 that Brazil's 2023/24 coffee exports rose +33% y/y to a record 47.3 million bags.  The International Coffee Organization (ICO) reported on August 5 that global June coffee exports rose +3.8% y/y to 10.78 million bags, and Oct-Jun global coffee exports were up +10.1% y/y to 103.47 million bags.

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