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Barchart
Barchart
Rich Asplund

Arabica Coffee Moves Higher on Tight ICE Coffee Inventories

Ice Arabica Brazil Robusta USDA Vietnam the USDA FAS

July arabica coffee (KCN23) this morning is up +1.55 (+0.88%), and July ICE robusta coffee (RMN23) is down -13 (-0.51%).

Coffee prices this morning are mixed, with robusta falling to a 1-1/2 month low.  Arabica is climbing today on smaller ICE inventories as ICE arabica coffee inventories have steadily declined over the past three months and fell to a 6-month low Tuesday of 592,634 bags.   Robusta is under pressure today on negative carryover from Sunday when Vietnam's General Department of Vietnam Customs reported that Vietnam's May coffee exports rose +15.7% m/m at 165,000 MT.

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