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Barchart
Rich Asplund

Coffee Prices Jump on a Tight Cash Market as Brazil Farmers Withhold Supplies

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

Dec arabica coffee (KCZ23) this morning is up +5.60 (+3.75%), and Nov ICE robusta coffee (RMX23) is up +32 (+1.36%).

Coffee prices this morning are sharply higher, with arabica posting a 3-week high and robusta posting a 1-1/2 week high.  A lack of Brazil’s coffee farmers selling coffee is keeping supplies tight in the cash market and is pushing prices higher.  The recent price weakness in coffee has encouraged farmers to store coffee beans rather than sell them.

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