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Rich Asplund

Arabica Coffee Slips on Brazil Harvest Pressures

Ice Brazil Deficit Vietnam Cecafe El Nino ICO Rabobank USDA FAS

Sep arabica coffee (KCU23) on Tuesday closed down -0.95 (-0.64%), and Sep ICE robusta coffee (RMU23) closed up +15 (+0.59%).

Coffee prices on Tuesday settled mixed. Brazil harvest pressures weigh on arabica coffee prices while shrinking global coffee inventories provide underlying support. ICE-monitored robusta coffee inventories on Tuesday fell to a record low of 3,611 lots (data history back to 2016), and ICE-monitored arabica coffee inventories dropped to a 9-month low of 513,503 bags.

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