
March arabica coffee (KCH24) Friday closed down -0.90 (-0.53%), and Jan ICE robusta coffee (RMF24) closed up +54 (+2.17%).
Coffee prices on Friday settled mixed. Arabica coffee was under pressure on signs of larger arabica coffee production after the USDA's Foreign Agriculture Service (FAS) on Wednesday projected Brazil's 2023/24 arabica production would climb +12.8% y/y to 44.9 mln bags due to higher yields and increased planted acreage. The USDA's FAS also forecasts that 2023/24 coffee production in Colombia, the world's second-largest arabica producer, will climb +7.5% y/y to 11.5 mln bags.