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Barchart
Rich Asplund

Arabica Coffee Closes Lower as ICE Coffee Inventories Recover

Ice Brazil Vietnam International Coffee Organization the USDA FAS

July arabica coffee (KCN24) on Thursday closed down -1.50 (-0.75%), and July ICE robusta coffee (RMN24) closed up +18 (+0.53%).

Coffee prices on Thursday settled mixed.  A rebound in ICE coffee inventories from historically low levels is undercutting prices.  ICE-monitored robusta coffee inventories on February 21 fell to a record low of 1,958 lots, although they recovered to a 5-1/2 month high Thursday of 4,144 lots.  Also, ICE-monitored arabica coffee inventories fell to a 24-year low of 224,066 bags on November 30, but they recovered to a 13-month high Thursday of 749,8789 bags.

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