July arabica coffee (KCN24) this morning is down -0.60 (-0.30%), and July ICE robusta coffee (RMN24) is up +2 (+0.06%).
Coffee prices today are mixed. A rebound in ICE coffee inventories from historically low levels is undercutting prices. ICE-monitored robusta coffee inventories on February 21 fell to a record low of 1,958 lots, although they recovered to a 5-1/2 month high Wednesday of 4,113 lots. Also, ICE-monitored arabica coffee inventories fell to a 24-year low of 224,066 bags on November 30, but they recovered to a 13-month high Wednesday of 740,449 bags.
