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Barchart
Barchart
Rich Asplund

Arabica Coffee Pushes Higher as Tight Supplies Spark Fund Buying

May arabica coffee (KCK23) this morning is up +3.75 (+1.87%), and May ICE robusta coffee (RMK23) is up +2 (+0.08%).

Coffee prices this morning are moderately higher, with arabica posting a 6-1/4 month nearest-futures high.  Expectations for smaller global coffee supplies are fueling fund buying of coffee futures.  Also, ICE monitored arabica coffee inventories Monday fell to a 4-month low of 709,612 bags.  Gains in robusta today are limited by increased supplies after ICE monitored robusta coffee inventories climbed to a 4-1/4 month high.

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