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Rich Asplund

A Recovery in ICE Inventories Fuels Long Liquidation in Coffee Futures

Ice Brazil Vietnam the USDA FAS

July arabica coffee (KCN24) this morning is down -10.60 (-4.91%), and July ICE robusta coffee (RMN24) is down -296 (-7.44%).

Coffee prices this morning sold off sharply to 3-week lows.  A rebound in ICE coffee supplies has eased supply concerns and fueled long liquidation in coffee futures after ICE-monitored arabica coffee inventories rose to a 1-year high on Wednesday, and ICE-monitored robusta coffee inventories rose to a 5-month high.

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