December arabica coffee (KCZ24) Wednesday closed up +1.85 (+0.75%), and November ICE robusta coffee (RMX24) closed up +9 (+0.19%).
Coffee prices posted moderate gains on Wednesday, with robusta recovering from a 1-month low. Tightness in coffee inventories is supportive of prices. ICE-monitored arabica coffee inventories fell to a 4-month low of 795,874 bags last Thursday, and ICE-monitored robusta coffee inventories fell to a 4-1/2 month low of 4,253 lots Tuesday. Coffee inventories had recently recovered as ICE-monitored arabica coffee inventories rose to a 1-1/2 year high of 858,474 bags on September 12, up from the 24-year low of 224,066 bags posted in November 2023. Also, ICE-monitored robusta coffee inventories on July 25 rose to a 1-year high of 6,521 lots, up from the record low of 1,958 lots posted in February 2024.
