
March arabica coffee (KCH24) this morning is down -1.00 (-0.59%), and Jan ICE robusta coffee (RMF24) is up +48 (+1.93%).
Coffee prices this morning are mixed. Arabica coffee is under pressure on signs of larger arabica coffee production after the USDA's Foreign Agriculture Service (FAS) on Tuesday projected Brazil's 2023/24 arabica production would climb +12.8% y/y to 44.9 mln bags due to higher yields and increased planted acreage. The USDA's FAS also forecasts that 2023/24 coffee production in Colombia, the world's second-largest arabica producer, will climb +7.5% y/y to 11.5 mln bags.