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Barchart
Barchart
Rich Asplund

Coffee Prices Jump on Mounting Supply Concerns

Ice Brazil Robusta USDA

May arabica coffee (KCK23) this morning is up +5.80 (+3.05%), and May ICE robusta coffee (RMK23) is up +38 (+1.58%).

Coffee prices this morning extended this week's rally, with arabica climbing to a 1-3/4 month high and robusta posting a 3-1/4 month high.  Mounting supply concerns have sparked fund buying of coffee futures.  The Colombia Coffee Growers Federation reported late Wednesday that Colombia Mar coffee exports fell -19% y/y to 906,000 bags.  Colombia is the world's second-largest arabica bean producer.

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