Risk-off mood drags Coffee 1% lower

Yesterday at a glance: Coffee ended yesterday at $180.85 per pound following from closing Thursday at $182.7. Overall, this represents a loss of $1.85 or 1%.

Highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

Coffee's value drop coincided with the fact that Cocoa lost 0.56% yesterday and closed at $3,017.

Positive performances can be seen by looking at other Softs markets as Sugar rallies 2.34% yesterday and closed at $24.83. Cotton is trading around $83.64 after ending yesterday's session at $80.12 (up 4.39% today).

The commodity has been trending lower for about a month. ICE Coffee hit a significant low of $151.1 around 4 months ago, but has since recovered 20.91%.