September arabica coffee (KCU24) on Thursday closed down -1.95 (-0.85%), and Sep ICE robusta coffee (RMU24) closed down -36 (-0.84%).
Coffee prices have trended lower over the past three weeks and posted 4-week lows Thursday. Coffee harvest pressures in Brazil are undercutting prices. Safras & Mercado reported last Friday that Brazil's 2024/25 coffee harvest was 81% completed as of July 23, faster than 74% last year at the same time and faster than the 5-year average of 77%. Brazil is the world's largest producer of arabica coffee beans. Brazil's arabica coffee harvest is 75% complete, faster than 65% a year ago and the 5-year average of 69%. The robusta coffee harvest is 95% completed, faster than 89% a year ago, and the 5-year average of 93%.
