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Barchart
Rich Asplund

Coffee Prices Jump as Inventories Continue to Shrink

Ice Brazil arabica Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) this morning is up +4.10 (+2.59%), and Nov ICE robusta coffee (RMX23) is up +61 (+2.52%).

Coffee prices this morning are sharply higher, with arabica posting a 1-month high and robusta posting a 2-1/2 week high.  Shrinking coffee inventories are pushing coffee prices higher 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 are just above the record low of 3,374 lots from August 31.

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