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Barchart
Barchart
Rich Asplund

Coffee Extends This Week's Rally on Shrinking ICE Coffee Inventories

Ice arabica Brazil Vietnam ICO USDA FAS

Dec arabica coffee (KCZ23) this morning is up +4.20 (+2.41%), and Jan ICE robusta coffee (RMF24) is up +14 (+0.58%).

Coffee prices this morning extended this week's rally, with arabica posting a fresh 4-1/2 month high and robusta climbing to a 2-week high.  Shrinking ICE coffee inventories are supporting higher coffee prices.   ICE-monitored arabica coffee inventories Wednesday fell to a 24-year low of 310,501 bags.  Meanwhile, ICE-monitored robusta coffee inventories today were at 4,002 lots, modestly above the record low of 3,374 lots posted on August 31.  

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