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Barchart
Rich Asplund

Coffee Prices Extend Weekly Rally to New 2-Month Highs

Ice Brazil Vietnam United States Cecafe USDA

September arabica coffee (KCU25) today is up +12.40 (+3.80%), and September ICE robusta coffee (RMU25) is up +62 (+1.52%).

Coffee prices today extended this week's sharp rally, boosted by short-covering and technical buying with the upside breakouts to new 2-month highs.  Bullish fundamental factors include the frost event early this week in Brazil, reduced coffee exports from Brazil, and declining coffee ICE warehouse inventories.

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