In my Q1 summary of soft commodities on Barchart, I highlighted that ICE Arabica coffee futures rose 12.55% in 2023 and edged only 0.29% higher in Q1, settling at $1.8885 per pound. On April 12, the nearby ICE futures’ price had rallied to $2.3575 per pound. Coffee prices are slightly higher in late June 2024, remaining comfortably above the $2 per pound level.
A bullish trend in Arabica coffee futures
