Coffee Market Intelligence
KC Arabica — Weekly Report
CFTC Commitments of Traders · Agro-Climatic Conditions · ICE KC Coffee
Week of May 15, 2026 COT data through 05/12/2026 · KC 265.75¢ (2026-05-15)
Weather through May Dkd 1, 2026
Coffee Market Intelligence — KC Arabica — May 15, 2026 Data through: COT: 05/12/2026 · Weather: May Dkd 1 Source: SoftSignal Research | https://reports.getsoftsignal.com/2026/arabica_coffee_report_86b7a308.html COT POSITIONING — KC ARABICA: Managed Money +25,028 cts 61th pct moderately long Open Interest 220,013 cts 38th pct CROP WATER STRESS — CWSI DEVIATION: Brazil Arabica -0.29 Near Normal Colombia -0.46 Near Normal Ethiopia +18.25 Well Above Normal — High Stress
At a Glance
All readings as of most recent available data
MM Net Position
+25,028 cts
Managed money long minus short · 61th pct since 2006
61th pct
Commercial Net
+2,186 cts
Producers & merchants net · 57th pct
57th pct
Open Interest
220,013 cts
Total futures open interest
38th pct
Brazil Arabica
-0.29
CWSI Dev — May Dkd 1
Near Normal
Colombia
-0.46
CWSI Dev — May Dkd 1
Near Normal
Ethiopia
+18.25
CWSI Dev — May Dkd 1
Well Above Normal — High Stress
Central America
-1.42
CWSI Dev — May Dkd 1
Below Normal — Good Conditions
Supply & Demand
USDA PSD world balance sheet · CONAB Brazil · BRL/USD
World Stocks-to-Use
11.6%
Historically tight · 2025 · 2th pct
Brazil Production
63,000
1,000 × 60kg bags · 2025 USDA est.
Brazil Total (CONAB)
66.2M bags
2026 1st Survey · +9.7M YoY
Arabica / Conilon Split
44.1M / 22.1M
Conilon 33.4% of Brazil total · 2026 1st Survey
BRL / USD
4.8976
Strong real (↓ BRL/USD) = sellers hold back · 1yr: 4.90–5.74

World ending stocks ÷ world domestic consumption. 20-year window. Lower = tighter supply, price supportive. Gold dashed line = 20-year average. Source: USDA FAS Production, Supply & Distribution.

Market YearStocks-to-Use (%)
06/0728.7%
07/0824.4%
08/0931.5%
09/1020.7%
10/1121.1%
11/1218.0%
12/1324.7%
13/1428.6%
14/1529.3%
15/1622.8%
16/1723.5%
17/1819.9%
18/1922.3%
19/2022.1%
20/2123.1%
21/2219.0%
22/2316.0%
23/2414.1%
24/2512.4%
25/2611.6%

World stocks-to-use from USDA FAS Production, Supply & Distribution (PSD). CONAB figures show latest Brazil survey estimate. BRL/USD from FRED. A weaker Brazilian real (higher BRL/USD) increases seller willingness in Brazil — the world's largest coffee producer — and tends to pressure KC and RC futures prices.

Market Positioning
CFTC Disaggregated COT — ICE KC Arabica Coffee (code 083731)
Managed money is moderately long (61th percentile vs. full history since 2006) with a net long of 25,028 contracts. Week-over-week change: -6,007 contracts. Commercial hedgers (producers & merchants) are neutral to long (57th percentile).

KC Coffee continuous contract (¢/lb) by week of year, overlapping across all available years. The red line shows where 2026 stands against prior seasonal trajectories.

Managed money (hedge funds & CTAs) net long position by week of year — overlapping all years since 2006. Extreme readings historically coincide with price turning points. Data: CFTC Disaggregated COT, released Fridays.

Date2026 ('000 cts)2025 ('000 cts)2024 ('000 cts)
Jan33.757.941.1
Jan34.560.542.1
Jan32.562.942.7
Jan35.265.646.1
Feb23.965.748.6
Feb16.860.248.2
Feb14.759.650.5
Feb12.957.945.8
Mar12.454.942.7
Mar14.852.443.4
Mar18.651.447.1
Mar23.953.742.4
Mar25.549.347.9
Apr22.737.457.3
Apr26.333.166.9
Apr23.834.971.8
Apr29.441.668.2
May31.041.768.3
May25.040.759.0

Total open interest. Expanding OI on a price rally confirms participation; shrinking OI on a rally suggests short-covering with limited new buying.

Date2026 ('000 cts)2025 ('000 cts)2024 ('000 cts)
Jan203.5251.3273.8
Jan201.5239.2269.5
Jan202.4241.8264.3
Jan207.0259.9268.7
Feb226.5267.9273.3
Feb226.1273.5280.7
Feb192.4217.8252.2
Feb202.2215.8236.0
Mar208.6218.9239.5
Mar206.2222.4247.5
Mar210.7219.2244.4
Mar217.8224.5248.7
Mar217.6224.9267.0
Apr219.4225.1282.6
Apr199.4181.5295.6
Apr196.8177.9287.0
Apr205.9196.9290.6
May213.1193.7289.5
May220.0189.2288.1

Options-only open interest by trader category (futures-and-options combined minus futures-only). Teal = managed money options net. Gold = swap dealer options net (negative = dealer short gamma). Red = producer/commercial options net. White dotted = Structural Hedging Pressure percentile rank. Elevated pressure + reversing MM positioning signals structural conditions for amplified price moves.

Crop Conditions Overview
CWSI deviation from climatological normal — monthly average across all arabica regions
Each cell shows the mean crop-water-stress deviation for a given month and year. Green = less stress than historical average (favorable conditions) · Red = more stress than average (drought / heat risk). Reading across a row reveals the seasonal stress pattern for that year. Reading down a column reveals how current conditions compare to the same month in prior years.

Brazil Arabica — primary Minas Gerais / São Paulo growing region. Key risk windows: flowering (Sept–Nov) and grain fill (Jan–Mar). Most recent dekads are preliminary ERA5/GFS data — subject to revision.

Colombia — bimodal rainfall; two flowering windows (Mar–May, Sept–Nov). Watch for stress in either peak to assess mid-year and year-end supply.

Ethiopia — Kiremt rains (Jun–Oct) drive the main crop; Belg rains (Feb–May) support the fly crop. Stress in June–August is the highest-impact risk period.

Brazil Arabica — Seasonal Detail
Minas Gerais / São Paulo · Primary arabica production zone
Crop-water-stress deviations from climatological norms: Brazil Arabica: Near Normal (-0.29) · Colombia: Near Normal (-0.46) · Ethiopia: Well Above Normal — High Stress (+18.25) · Central America: Below Normal — Good Conditions (-1.42). Values below zero indicate lower stress than the long-run average — favorable for yield.

CWSI deviation from normal per dekad. Zero = historical average; negative = below-normal stress; positive = above-normal stress. The horizontal zero line is the long-run climatological normal. Most recent dekads are preliminary ERA5/GFS data — subject to revision.

Dekad2026 (dev)2025 (dev)2024 (dev)
Jan-1-0.040-4.080-5.000
Jan-21.940-1.1104.140
Jan-3-1.8501.190-3.040
Feb-1-2.3201.3500.370
Feb-20.4501.540-1.210
Feb-3-2.8801.820-0.550
Mar-1-1.0503.8300.550
Mar-2-1.0002.4601.890
Mar-30.2700.460-0.890
Apr-10.1300.8400.200
Apr-20.190-0.5500.230
Apr-30.180-0.2900.290
May-1-0.2900.1500.360

Soil moisture fraction. Values below the grey envelope during flowering or grain-fill are a key supply risk.

Dekad2026 (fraction)2025 (fraction)2024 (fraction)
Jan-10.3600.4200.330
Jan-20.3600.4300.360
Jan-30.3900.4100.370
Feb-10.4100.4100.390
Feb-20.4100.3900.390
Feb-30.4100.3600.420
Mar-10.4200.3400.400
Mar-20.4300.3300.390
Mar-30.4300.3300.390
Apr-10.4100.3200.390
Apr-20.4000.3200.380
Apr-30.3800.3300.360
May-10.3600.3300.340

10-day accumulated rainfall (mm). Track cumulative deviations from the grey historical envelope.

Dekad2026 (mm)2025 (mm)2024 (mm)
Jan-171.60099.700100.600
Jan-245.50069.70024.500
Jan-390.60047.100106.500
Feb-198.50027.10042.600
Feb-225.0000.00076.100
Feb-3104.1000.00050.600
Mar-113.9000.00034.400
Mar-231.10020.1005.300
Mar-323.70034.80064.900
Apr-111.30011.90012.300
Apr-20.00039.0000.000
Apr-30.00017.1000.000
May-10.0000.0000.000

Average temperature by dekad. Sustained temperature above the grey envelope during flowering risks fruit abortion.

Dekad2026 (°C)2025 (°C)2024 (°C)
Jan-123.90023.40023.800
Jan-223.70023.40025.400
Jan-322.60024.80023.600
Feb-123.70024.00023.900
Feb-224.10025.30023.900
Feb-322.80025.30024.400
Mar-123.50025.00024.900
Mar-223.50025.60025.700
Mar-322.90024.10023.600
Apr-123.20023.60023.800
Apr-222.40023.10023.500
Apr-323.10022.60023.700
May-122.70021.50023.700

Running count of dekads year-to-date where average temperature exceeded the climatological normal. An accelerating slope relative to prior years indicates persistent above-normal heat accumulation — a risk to flowering induction and dry-season recovery.

Dekad2026 (dkd)2025 (dkd)2024 (dkd)
Jan-11.0000.0001.000
Jan-21.0000.0002.000
Jan-31.0001.0002.000
Feb-11.0002.0002.000
Feb-22.0003.0002.000
Feb-32.0004.0003.000
Mar-12.0005.0004.000
Mar-22.0006.0005.000
Mar-32.0007.0006.000
Apr-13.0008.0007.000
Apr-23.0009.0008.000
Apr-34.00010.0009.000
May-15.00011.00010.000

Cumulative positive temperature anomaly year-to-date (°C × dekad). Integrates both frequency and magnitude of above-normal heat. Elevated readings during Brazil's dry winter months signal risk of degraded flower-bud induction and reduced phenological recovery before the spring flush.

Dekad2026 (°C·dkd)2025 (°C·dkd)2024 (°C·dkd)
Jan-10.3000.0000.200
Jan-20.3000.0001.900
Jan-30.3001.0001.900
Feb-10.3001.1001.900
Feb-20.5002.5001.900
Feb-30.5003.8002.300
Mar-10.5005.2003.600
Mar-20.5007.3005.800
Mar-30.5008.3006.300
Apr-10.7008.9007.100
Apr-20.7009.4008.000
Apr-31.6009.8009.500
May-12.9009.90011.800
Colombia — Seasonal Detail
Andean growing region · Bimodal rainfall · Year-round harvest

Colombia's bimodal rainfall creates two seasonal stress windows (Apr–Jun and Oct–Dec). Elevated CWSI in either peak flowering window is the key supply risk. Most recent dekads are preliminary ERA5/GFS data — subject to revision.

Dekad2026 (dev)2025 (dev)2024 (dev)
Jan-1-5.000-2.620-0.670
Jan-2-4.380-5.000-5.000
Jan-3-5.0005.000-5.000
Feb-1-0.1501.940-0.470
Feb-21.3801.480-0.380
Feb-3-0.2201.9200.030
Mar-1-0.910-0.7200.090
Mar-2-1.1400.4900.680
Mar-30.070-0.380-1.630
Apr-1-0.9300.890-0.030
Apr-2-0.590-0.830-0.070
Apr-3-0.7000.3000.720
May-1-0.460-0.1700.610
Dekad2026 (fraction)2025 (fraction)2024 (fraction)
Jan-10.4200.4400.410
Jan-20.4400.4200.400
Jan-30.4300.4000.380
Feb-10.4400.4000.380
Feb-20.4300.4100.390
Feb-30.4400.4200.380
Mar-10.4300.4300.370
Mar-20.4200.4400.380
Mar-30.4200.4400.380
Apr-10.4300.4500.400
Apr-20.4500.4500.400
Apr-30.4500.4600.430
May-10.4600.4700.460
Dekad2026 (mm)2025 (mm)2024 (mm)
Jan-1116.90098.10018.100
Jan-289.60030.60035.900
Jan-3103.90067.20011.500
Feb-194.60082.70094.100
Feb-293.500104.70038.000
Feb-357.700104.90014.500
Mar-121.80093.00043.000
Mar-217.000126.30087.800
Mar-388.100108.00068.800
Apr-190.500155.100105.800
Apr-2112.10099.00081.700
Apr-3105.400162.100184.000
May-184.400132.700187.900
Dekad2026 (°C)2025 (°C)2024 (°C)
Jan-120.70020.90022.200
Jan-220.60021.50022.700
Jan-321.10021.40023.400
Feb-121.10021.70022.000
Feb-220.90021.50023.000
Feb-321.50021.30023.000
Mar-121.80021.40023.100
Mar-222.00021.20023.300
Mar-321.80021.80022.900
Apr-121.50021.10022.300
Apr-221.50022.00023.200
Apr-321.30021.10021.600
May-121.50020.90021.800

Running count of dekads year-to-date where temperature exceeded the climatological normal. Colombia's Andean belt is warming ~0.3°C per decade — heat accumulation trending above historical ranges compresses the viable altitude band for arabica cultivation.

Dekad2026 (dkd)2025 (dkd)2024 (dkd)
Jan-10.0000.0001.000
Jan-20.0001.0002.000
Jan-30.0001.0003.000
Feb-10.0001.0004.000
Feb-20.0001.0005.000
Feb-30.0001.0006.000
Mar-11.0001.0007.000
Mar-22.0001.0008.000
Mar-33.0002.0009.000
Apr-14.0002.00010.000
Apr-25.0003.00011.000
Apr-36.0004.00012.000
May-17.0004.00013.000

Cumulative positive temperature anomaly year-to-date (°C × dekad). Elevated readings in either bimodal flowering window (Apr–Jun, Oct–Dec) raise risk of pollen failure and reduced cherry set.

Dekad2026 (°C·dkd)2025 (°C·dkd)2024 (°C·dkd)
Jan-10.0000.0001.100
Jan-20.0000.3002.600
Jan-30.0000.3004.400
Feb-10.0000.3004.700
Feb-20.0000.3005.900
Feb-30.0000.3007.200
Mar-10.2000.3008.700
Mar-20.6000.30010.400
Mar-31.0000.70011.900
Apr-11.2000.70012.900
Apr-21.6001.60015.000
Apr-31.9001.70015.600
May-12.4001.70016.400
Ethiopia — Seasonal Detail
Jimma / Sidama / Yirgacheffe · Africa's largest arabica producer

Main growing season driven by Kiremt rains (Jun–Oct). Belg rains (Feb–May) support the fly crop. Divergence above the grey envelope in June–August is the highest-impact risk window. Most recent dekads are preliminary ERA5/GFS data — subject to revision.

Dekad2026 (dev)2025 (dev)2024 (dev)
Jan-1-0.0500.2300.130
Jan-2-0.180-0.6400.160
Jan-3-0.5100.2200.470
Feb-10.470-0.0600.460
Feb-20.220-1.0000.740
Feb-30.740-1.000-0.790
Mar-1-0.610-0.6500.500
Mar-2-0.9000.210-0.780
Mar-3-1.540-0.0500.010
Apr-1-0.2300.850-0.710
Apr-20.660-0.8500.940
Apr-3-0.4503.770-1.900
May-15.0003.5002.250
Dekad2026 (fraction)2025 (fraction)2024 (fraction)
Jan-10.3100.3200.340
Jan-20.3000.3100.330
Jan-30.3000.3000.320
Feb-10.2900.3000.310
Feb-20.2900.2900.310
Feb-30.2800.2900.300
Mar-10.2900.2800.300
Mar-20.2900.2800.300
Mar-30.3200.3000.300
Apr-10.3500.3100.310
Apr-20.3500.3200.330
Apr-30.3600.3300.340
May-10.3600.3500.360
Dekad2026 (mm)2025 (mm)2024 (mm)
Jan-10.0000.0000.000
Jan-20.0000.0000.000
Jan-30.0000.0000.000
Feb-10.0000.0000.000
Feb-20.0000.0000.000
Feb-30.0000.0000.000
Mar-10.00012.6005.200
Mar-228.10018.1000.000
Mar-3107.90049.80023.000
Apr-146.1000.00065.500
Apr-224.30073.80025.000
Apr-369.00029.40086.700
May-122.40069.90074.400
Dekad2026 (°C)2025 (°C)2024 (°C)
Jan-120.20020.40020.800
Jan-220.70020.80021.400
Jan-322.00021.00021.600
Feb-121.60021.70021.500
Feb-222.10022.60022.500
Feb-321.90022.80023.200
Mar-121.30023.00022.800
Mar-221.20021.50023.700
Mar-319.60020.80022.600
Apr-120.30022.00020.900
Apr-221.00020.60022.500
Apr-320.60021.10021.000
May-121.00020.20021.300

Running count of dekads year-to-date where temperature exceeded the climatological normal. Track accumulation through the Kiremt season (Jun–Oct) as the primary risk window.

Dekad2026 (dkd)2025 (dkd)2024 (dkd)
Jan-11.0001.0001.000
Jan-22.0002.0002.000
Jan-33.0003.0003.000
Feb-14.0004.0004.000
Feb-25.0005.0005.000
Feb-35.0006.0006.000
Mar-15.0007.0007.000
Mar-25.0007.0008.000
Mar-35.0007.0009.000
Apr-15.0008.0009.000
Apr-26.0008.00010.000
Apr-37.0009.00011.000
May-18.00010.00012.000

Cumulative positive temperature anomaly year-to-date (°C × dekad). Above-normal readings through the main growing season compound drought stress on yield formation.

Dekad2026 (°C·dkd)2025 (°C·dkd)2024 (°C·dkd)
Jan-10.1000.3000.700
Jan-20.5000.8001.800
Jan-31.8001.1002.700
Feb-12.2001.6003.000
Feb-22.8002.7004.000
Feb-32.8003.6005.300
Mar-12.8004.7006.200
Mar-22.8004.7008.200
Mar-32.8004.7009.400
Apr-12.8005.5009.400
Apr-23.0005.50011.100
Apr-33.3006.30011.800
May-14.3006.50013.100
Central America — Seasonal Detail
Guatemala / Honduras / Costa Rica / El Salvador · High-altitude washed arabica

Central America’s arabica harvest runs November–March. The May–October rainy season drives crop development — sustained moisture stress during this window is the primary supply risk. Guatemala’s western highlands and Honduras’s mountain regions dominate regional volume. Most recent dekads are preliminary ERA5/GFS data — subject to revision.

Dekad2026 (dev)2025 (dev)2024 (dev)
Jan-10.240-0.5500.240
Jan-20.0300.210-0.090
Jan-30.1700.1100.010
Feb-1-1.0001.070-1.000
Feb-2-1.0002.060-0.630
Feb-3-1.9100.260-1.000
Mar-1-1.000-1.000-1.000
Mar-2-0.910-1.000-1.000
Mar-3-1.060-1.000-1.000
Apr-1-0.960-0.680-1.000
Apr-2-1.000-1.000-1.000
Apr-3-1.000-1.750-1.000
May-1-1.420-2.470-1.000
Dekad2026 (fraction)2025 (fraction)2024 (fraction)
Jan-10.3600.3800.350
Jan-20.3400.3700.340
Jan-30.3400.3600.320
Feb-10.3300.3500.320
Feb-20.3200.3400.300
Feb-30.3100.3300.290
Mar-10.3000.3200.280
Mar-20.2900.3000.270
Mar-30.2900.2900.260
Apr-10.2900.2800.250
Apr-20.2800.2800.250
Apr-30.2800.2800.250
May-10.2700.2700.240
Dekad2026 (mm)2025 (mm)2024 (mm)
Jan-10.00038.6000.000
Jan-218.2000.0004.800
Jan-312.20028.4005.000
Feb-10.0000.0000.000
Feb-20.0000.0000.000
Feb-312.1004.2000.000
Mar-10.0000.0000.000
Mar-29.6000.0000.000
Mar-323.7000.0000.000
Apr-111.40020.6000.000
Apr-20.0000.0000.000
Apr-30.0004.9000.000
May-14.20015.2000.000
Dekad2026 (°C)2025 (°C)2024 (°C)
Jan-121.40021.80022.700
Jan-221.50022.40023.500
Jan-321.70022.10023.000
Feb-119.50022.70022.100
Feb-222.40023.00023.700
Feb-322.40023.20022.600
Mar-123.40024.00025.000
Mar-223.20024.40025.700
Mar-322.60024.30026.200
Apr-123.90024.60026.000
Apr-224.20023.80025.700
Apr-325.10024.50025.900
May-126.20025.70027.100

Running count of dekads year-to-date where temperature exceeded the climatological normal. Persistent above-normal readings through the rainy season (May–Oct) compress the physiological recovery window before the Nov–Mar harvest.

Dekad2026 (dkd)2025 (dkd)2024 (dkd)
Jan-10.0001.0001.000
Jan-20.0002.0002.000
Jan-30.0003.0003.000
Feb-10.0004.0004.000
Feb-21.0005.0005.000
Feb-31.0006.0005.000
Mar-12.0007.0006.000
Mar-22.0008.0007.000
Mar-32.0009.0008.000
Apr-12.0009.0009.000
Apr-22.0009.00010.000
Apr-33.0009.00011.000
May-14.00010.00012.000

Cumulative positive temperature anomaly year-to-date (°C × dekad). El Salvador and Guatemala have among the highest rates of climate-attributable harmful heat days — elevated readings here are a forward indicator of quality and yield pressure.

Dekad2026 (°C·dkd)2025 (°C·dkd)2024 (°C·dkd)
Jan-10.0000.2001.100
Jan-20.0001.1003.100
Jan-30.0001.5004.400
Feb-10.0002.2004.500
Feb-20.1002.9005.900
Feb-30.1003.3005.900
Mar-10.6004.4008.000
Mar-20.6005.40010.300
Mar-30.6005.90012.700
Apr-10.6005.90014.100
Apr-20.6005.90015.200
Apr-30.7005.90016.100
May-12.0006.70018.300
Origin Deforestation Risk
GFW GLAD alerts · Vegetation stress · Supply chain data — Arabica growing regions
Deforestation risk index for each arabica growing region, combining Global Forest Watch GLAD deforestation alert area, CWSI vegetation stress, and Trase supply chain data. This index reflects regional land-use pressure — not your specific supplier's compliance status. Data is updated when GFW and Trase datasets refresh. Source: Global Forest Watch, Trase.earth, ERA5-Land.
Brazil Arabica
77 / 100
Risk Index · High
GLAD alerts: 58,899,333 ha
Colombia
73 / 100
Risk Index · High
GLAD alerts: 10,762,659 ha
Ethiopia
77 / 100
Risk Index · High
GLAD alerts: 32,303,506 ha

Risk index (0–100) combining GFW GLAD alert area, CWSI vegetation stress, and Trase supply chain data. Red line = High threshold (60). Gold line = Moderate threshold (40). Higher score = greater deforestation pressure in the production region.

Brazilian Real / USD
Key FX driver of arabica prices · BRL per USD · higher = weaker real

BRL/USD (Brazilian reais per US dollar). A rising rate means a weaker real — Brazilian farmers receive more reais per bag exported, increasing their willingness to sell and adding supply pressure to KC prices. A falling rate (stronger real) tends to support prices as sellers hold back. Source: FRED / Federal Reserve Bank of St. Louis (DEXBZUS). Dotted line: KC nearby futures price (¢/lb).