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Rich Asplund

Coffee Prices Close Moderately Higher on Tight Global Supplies

Ice arabica Brazil International Coffee Organization USDA

July arabica coffee (KCN23) on Wednesday closed up +0.55 (+0.29%), and July ICE robusta coffee (RMN23) closed up +16 (+0.63%).

Coffee prices Wednesday settled moderately higher. Arabica coffee has support from tighter supplies. ICE arabica coffee inventories have steadily declined over the past three months and fell to a 5-1/2 month low Tuesday of 620,633 bags. Wednesday’s rally in the dollar index to a 2-month high limited gains in coffee futures.

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