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Barchart
Barchart
Rich Asplund

Coffee Prices Consolidate This Week's Gains

Ice Brazil Vietnam the USDA FAS Cecafe ICO the International Coffee Organization USDA

December arabica coffee (KCZ24) Friday closed down -4.75 (-1.73%), and November ICE robusta coffee (RMX24) closed down -45 (-0.81%).

Coffee prices settled moderately lower on Friday as they consolidated this week's sharp rally.  On Thursday, Dec arabica coffee soared to a 13-year nearest-futures high, and Nov robusta rose to a contract high.  Coffee prices have seen strength as adverse weather in key coffee-producing countries threatens global coffee production.  Friday's slump in the dollar index (DXY00) to a 14-month low limited losses in coffee.

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