Sep arabica coffee (KCU23) this morning is down -0.85 (-0.54%), and Sep ICE robusta coffee (RMU23) is up +67 (+2.65%).
Coffee prices this morning are mixed, with arabica falling to a 5-3/4 month nearest-futures (N23) low and robusta climbing to a 1-week high. Arabica is under pressure today as Brazil's coffee harvest has accelerated. Cooxupe, Brazil's coffee export cooperative, reported today that Brazil's coffee harvest was 50.5% completed as of July 14, well ahead of the 42.8% completed at the same time last year. Robusta coffee is higher today on signs of tight supplies as ICE-monitored robusta coffee inventories Tuesday fell to a record low of 5,275 lots (data history back to 2016).
