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Barchart
Barchart
Rich Asplund

Coffee Prices Moderately Lower on Long Liquidation from a Stronger Dollar

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Dec arabica coffee (KCZ23) on Friday closed down -2.60 (-1.68%), and Nov ICE robusta coffee (RMX23) closed down -7 (-0.28%).

Coffee prices Friday were under pressure from a +0.5% rally in the dollar index, which sparked long liquidation in coffee futures.  Losses were limited due to falling coffee inventories.  ICE-monitored arabica coffee inventories Friday dropped to a 9-1/2 month low of 483,383 bags.  Also, on Thursday, ICE-monitored robusta coffee inventories fell to a record low of 3,374 lots (data history back to 2016).

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