Latest news with #ICE-monitored
Yahoo
5 days ago
- Business
- Yahoo
Arabica Coffee Resumes Climb on Dry Brazil Weather
September arabica coffee (KCU25) today is up +8.85 (+2.98%), and September ICE robusta coffee (RMU25) is up +5 (+0.15%). Arabica coffee prices are trading higher, seeing continued support from dry weather conditions in Brazil. Somar Meteorologia reported on Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended July 12. More News from Barchart Coffee Prices Fall Back After Monday's Surge Coffee Prices Fall Back After Monday's Surge How About those Crop Condition Numbers for Corn and Soybeans? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Coffee prices were undercut by today's new 3-week high in the dollar index, which was bearish for the prices of most commodities, including coffee. Coffee prices continue to see downward pressure from Brazil's coffee harvest. Brazil's Cooxupe coffee co-op said Tuesday that the harvest among its members was 49.3% completed as of July 11. Cooxupe is Brazil's largest coffee cooperative and Brazil's largest exporter group. In related news, Safras & Mercado reported last Friday that Brazil's overall 2025/26 coffee harvest was 69% complete as of July 9, ahead of the comparable level of 66% last year and the 5-year average of 62%. The breakdown showed that 88% of the robusta harvest and 58% of the arabica harvest were complete as of July 9. Arabica coffee prices have support from President Trump's announcement last Wednesday that he would impose 50% tariffs on US imports from Brazil, effective August 1. That threat caused concern that coffee supplies could be disrupted from Brazil, the world's largest producer of arabica coffee. Coffee prices have retreated over the past two months on the outlook for abundant coffee supplies. On June 25, the USDA's Foreign Agricultural Service (FAS) forecasted that Brazil's 2025/26 coffee production will increase by +0.5% y/y to 65 million bags and that Vietnam's 2025/26 coffee output will rise by 6.9% y/y to a 4-year high of 31 million bags. Brazil is the world's largest producer of arabica coffee, and Vietnam is the world's largest producer of robusta coffee. Coffee prices are also under pressure from an increase in ICE-monitored inventories after robusta coffee inventories jumped to a 10-month high of 5,492 lots Tuesday. Also, ICE-monitored arabica coffee inventories rose to a 5.25-month high of 892,468 bags on May 27 and were moderately below that high at 831,612 bags as of Tuesday. Due to drought, Vietnam's coffee production in the 2023/24 crop year decreased by -20% y/y to 1.472 MMT, the smallest crop in four years. Also, Vietnam's General Statistics Office reported that 2024 Vietnam coffee exports fell by -17.1% y/y to 1.35 MMT. Additionally, the Vietnam Coffee and Cocoa Association reduced its 2024/25 Vietnam coffee production estimate to 26.5 million bags on March 12, down from a December estimate of 28 million bags. By contrast, the Vietnam National Statistics Office reported on July 7 that Vietnam's Jan-Jun 2025 coffee exports were up +4.1% y/y to 943,000 MT. The USDA's biannual report, released on June 25, was bearish for coffee prices. The USDA's Foreign Agriculture Service (FAS) projected that world coffee production in 2025/26 will increase by +2.5% y/y to a record 178.68 million bags, with a -1.7% decrease in arabica production to 97.022 million bags and a +7.9% increase in robusta production to 81.658 million bags. The USDA's FAS forecasts that 2025/26 ending stocks will climb by +4.9% to 22.819 million bags from 21.752 million bags in 2024/25. For the 2025/26 marketing year, Volcafe projects a global 2025/26 arabica coffee deficit of -8.5 million bags, wider than the -5.5 million bag deficit for 2024/25 and the fifth consecutive year of deficits. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Arabica Coffee Prices Retreat on Brazil Coffee Crop Optimism
September arabica coffee (KCU25) Tuesday closed down -8.15 (-2.72%), and September ICE robusta coffee (RMU25) closed up +40 (+1.10%). Coffee prices on Tuesday settled mixed. Sep arabica coffee tumbled to a contract low on Tuesday, and the nearest-futures (N25) contract fell to a 6-3/4 month low. Arabica coffee is under pressure as abundant rainfall in Brazil has eased dryness concerns and is positive for the country's coffee crops. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 5 mm of rain during the week ended June 28, which is 714% of the historical average. Arabica Coffee Pressured by Beneficial Brazil Rain Cocoa Prices Plunge on Expectations of a Bigger Ghana Cocoa Crop Sugar Prices Plummet on Weak Demand and Ample Supplies Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. However, Tuesday's slide in the dollar index (DXY00) to a 3-1/3 year low sparked some short covering in coffee futures and lifted robusta coffee into positive territory. Coffee prices have retreated over the past two months, with arabica coffee posting a 6-3/4 month nearest-futures (N25) low on Tuesday. The outlook for abundant coffee supplies is undercutting prices. Last Wednesday, the USDA's Foreign Agricultural Service (FAS) forecast that Brazil's 2025/26 coffee production will increase by 0.5% year-over-year (y/y) to 65 million bags and that Vietnam's 2025/26 coffee output will rise by 6.9% y/y to a 4-year high of 31 million bags. Brazil is the world's largest producer of arabica coffee, and Vietnam is the world's largest producer of robusta coffee. The advancing coffee harvest in Brazil is also weighing on coffee prices. Last Tuesday, Brazil's Cooxupe coffee co-op announced that its members reported the coffee harvest was only 24.3% complete as of June 20, compared with 34.2% completed at the same time last year. Cooxupe is Brazil's largest coffee cooperative and Brazil's largest exporter of coffee. Also, Safras & Mercado recently reported that Brazil's 2025/26 coffee harvest was 35% complete as of June 11, slightly behind last year's comparable level of 37% but in line with the 5-year average of 35%. The breakdown showed that 49% of the robusta harvest and 26% of the arabica harvest were complete as of June 11. Brazil's arabica harvest has been slowed by heavy rain in some areas. Robusta coffee prices have received support from tightening supplies, following a decline in ICE-monitored robusta coffee inventories to a 6-week low of 5,108 lots last Thursday. However, a bearish factor for arabica prices is that ICE-monitored arabica coffee inventories rose to a 4-3/4-month high of 892,468 bags on May 27 and were modestly below that high at 841,770 bags as of Tuesday. Smaller coffee exports from Brazil are bullish for prices. Last Wednesday, Cecafe reported that Brazil's May green coffee exports fell by -36% y/y to 2.8 million bags. Due to drought, Vietnam's coffee production in the 2023/24 crop year decreased by 20% to 1.472 MMT, the smallest crop in four years. Also, Vietnam's General Statistics Office reported that 2024 Vietnam coffee exports fell by -17.1% y/y to 1.35 MMT. Last Tuesday, Vietnam's National Statistics Office reported that Vietnam's 2025 Vietnam's Jan-May coffee exports are down -1.8% y/y to 813,000 MT. Additionally, the Vietnam Coffee and Cocoa Association reduced its 2024/25 Vietnam coffee production estimate to 26.5 million bags on March 12, down from a December estimate of 28 million bags. The USDA's biannual report, released last Wednesday, was bearish for coffee prices. The USDA's Foreign Agriculture Service (FAS) projected that world coffee production in 2025/26 will increase +2.5% y/y to a record 178.68 million bags, with a -1.7% decrease in arabica production to 97.022 million bags and a +7.9% increase in robusta production to 81.658 million bags. The USDA's FAS forecasts that 2025/26 ending stocks will climb by +4.9% to 22.819 million bags from 21.752 million bags in 2024/25. For the 2025/26 marketing year, Volcafe projects a global 2025/26 arabica coffee deficit of -8.5 million bags, wider than the -5.5 million bag deficit for 2024/25 and the fifth consecutive year of deficits. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
23-06-2025
- Business
- Yahoo
Slack Rain and Frost Threats in Brazil Push Coffee Prices Sharply Higher
September arabica coffee (KCU25) Monday closed up +11.50 (+3.65%), and July ICE robusta coffee (RMN25) closed up +99 (+2.55%). Coffee prices recovered from early losses Monday and rallied sharply. Short covering emerged in coffee futures Monday due to below-normal rainfall in Brazil, following a report by Somar Meteorologia that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended June 21. Coffee Prices Rebound on Slack Rain in Brazil Cocoa Prices Surge as Ivory Coast Cocoa Exports Slow Sugar Prices Pressured by the Outlook for Adequate Supplies Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Gains in coffee prices accelerated Monday due to the risk of frost in Brazil. Meteorologist Rural Clima said that below-normal temperatures and threats of frost are possible in Brazil over the next 72 hours, which could affect the coffee-growing regions of São Paulo and Minas Gerais. Coffee prices have been under pressure over the past seven weeks, with arabica coffee falling to a 5-1/4 month low last Wednesday and robusta sliding to a 13-month low today due to concerns about higher coffee production and ample supplies. Brazil's ongoing coffee harvest is weighing on prices as Safras & Mercado recently reported that Brazil's 2025/26 coffee harvest was 35% complete as of June 11, slightly behind last year's comparable level of 37% but in line with the 5-year average of 35%. The breakdown showed that 49% of the robusta harvest and 26% of the arabica harvest were complete as of June 11. Brazil's arabica harvest has been slowed by heavy rain in some areas. Meanwhile, Brazil's Cooxupe coffee co-op announced last Wednesday that its members reported the coffee harvest was 17.8% complete as of June 13. Cooxupe is Brazil's largest coffee cooperative and Brazil's largest exporter of coffee. On May 19, the USDA's Foreign Agricultural Service (FAS) forecast that Brazil's 2025/26 coffee production will increase by 0.5% year-over-year (y/y) to 65 million bags and that Vietnam's 2025/26 coffee output will rise by 6.9% y/y to 31 million bags. Brazil is the world's largest producer of arabica coffee, and Vietnam is the world's largest producer of robusta coffee. Robusta coffee prices have underlying support as ICE-monitored robusta coffee inventories fell to a 1-month low Monday of 5,137 lots. In a bearish factor for arabica prices, however, ICE-monitored arabica coffee inventories rose to a 4-1/2 month high of 892,468 bags on May 27 and were modestly below that high at 865,898 bags as of Monday. Smaller coffee exports from Brazil are bullish for prices. Last Wednesday, Cecafe reported that Brazil's May green coffee exports fell by -36% y/y to 2.8 million bags. Due to drought, Vietnam's coffee production in the 2023/24 crop year decreased by 20% to 1.472 MMT, the smallest crop in four years. Also, Vietnam's General Statistics Office reported that 2024 Vietnam coffee exports fell -17.1% y/y to 1.35 MMT. Last Tuesday, Vietnam's National Statistics Office reported that Vietnam's 2025 Vietnam's Jan-May coffee exports are down -1.8% y/y to 813,000 MT. In addition, the Vietnam Coffee and Cocoa Association on March 12 cut its 2024/25 Vietnam coffee production estimate to 26.5 million bags from a December estimate of 28 million bags. Conversely, the USDA's FAS on May 19 projected that Vietnam's 2025/26 robusta coffee crop would climb +7% y/y to a 4-year high of 30 million bags. The USDA's biannual report on December 18 was mixed for coffee prices. The USDA's Foreign Agriculture Service (FAS) projected that world coffee production in 2024/25 will increase +4.0% y/y to 174.855 million bags, with a +1.5% increase in arabica production to 97.845 million bags and a +7.5% increase in robusta production to 77.01 million bags. The USDA's FAS forecasts that 2024/25 ending stocks will fall by -6.6% to a 25-year low of 20.867 million bags from 22.347 million bags in 2023/24. For the 2025/26 marketing year, Volcafe projects a global 2025/26 arabica coffee deficit of -8.5 million bags, wider than the -5.5 million bag deficit for 2024/25 and the fifth consecutive year of deficits. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
