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Rich Asplund

Coffee Prices Gain as Inventories Tighten

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Dec arabica coffee (KCZ23) on Wednesday closed up +1.00 (+0.64%), and Nov ICE robusta coffee (RMX23) closed up +12 (+0.50%).

Coffee prices on Wednesday extended Tuesday's gains, with arabica climbing to a 4-week high and robusta rising to a 2-week high.  Current coffee inventories are tight and supportive for prices as ICE-monitored arabica coffee inventories Wednesday dropped to an 11-1/4 month low of 431,772 bags.  Also, ICE-monitored robusta coffee inventories on August 31 fell to a record low of 3,374 lots (data history back to 2016).

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