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Rich Asplund

Arabica Coffee Mildly Higher on Tight ICE Coffee Inventories

Ice Brazil Vietnam El Nino ICO USDA USDA FAS

March arabica coffee (KCH24) this morning is up +0.50 (+0.30%), and Jan ICE robusta coffee (RMF24) is down -2 (-0.08%).

Coffee prices this morning are mixed.  Nearest-futures arabica coffee (KCZ23) today posted a 5-1/4 month high, and robusta coffee on November 16 posted a 2-1/4 month high due to shrinking ICE coffee inventories.   ICE-monitored arabica coffee inventories on November 16 fell to a 24-year low of 289,699 bags.  Meanwhile, today, ICE-monitored robusta coffee inventories were at 4,254 lots, moderately above the record low of 3,374 lots posted on August 31.  

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