Coffee Futures Consolidate Losses; Brazil Bumper Crop Outlook Weighs on KCK26, RMK26

Coffee futures were mixed on February 20, 2026, as markets consolidated above recent lows amid a robust global supply outlook. May arabica (KCK26) added 0.21%, while May robusta (RMK26) declined 0.52%. Prices remain under pressure following Conab's February 5 projection of a record Brazilian 2026 crop, rising 17.2% year-over-year to 66.2 million bags. Sufficient rainfall in Minas Gerais and a 38.3% year-over-year surge in Vietnam's January exports to 198,000 metric tons bolstered supply concerns. Meanwhile, recovering ICE inventories and USDA projections for record world production further capped gains, despite reduced exports from Brazil and Colombia.