Robusta coffee futures on ICE edged up on Friday, reversing some of the prior session’s falls, but there is growing doubt about a sustained uptrend going forward as supplies are set to improve.
* July robusta coffee RC2! rose 0.7% to $3,844 a metric ton at 1452 GMT, having closed down 2.5% on Thursday.
* Rabobank said robusta price signals were turning bearish, citing increased ICE inventories, a significant output recovery expected in Indonesia, and improved weather forecasts in top producer Vietnam.
* July arabica coffee KC1! rose 0.5% to $2.1580 per lb.
* Farmers are progressing slowly with the harvest of Brazil’s arabica coffee crop this year, experts said, and some are reporting smaller bean sizes.
* Dealers in Brazil said prices are still short of where they need to be to spur farmer selling, adding the view amongst buyers is that it is better to clinch deals now rather than wait for prices to fall.
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