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Barchart
Barchart
Rich Asplund

Coffee Prices Mixed as Robusta Falls Back From a Record High on Profit-Taking

May arabica coffee (KCK24) this morning is up +1.75 (+0.86%), and May ICE robusta coffee (RMK24) is down -36 (-0.94%).

Coffee prices this morning are mixed, with arabica climbing to a 5-3/4 month high and robusta posting a new record high.  Concern that excessive dryness in Vietnam will limit the country's robusta coffee production is bullish for robusta prices and provides carryover support to arabica coffee prices.  However, robusta gave up its advance and turned lower as profit-taking emerged after ICE-monitored robusta coffee inventories today rose to a 2-1/2 month high of 3,094 lots.

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