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Barchart
Barchart
Rich Asplund

Coffee Prices Rally as USDA Cuts its Global Production Estimates

March arabica coffee (KCH24) on Thursday closed up +3.00 (+1.57%), and Jan ICE robusta coffee (RMF24) closed up +172 (+5.72%).

Coffee prices on Thursday rallied, with robusta soaring to a new all-time high after the USDA cut its 2023/24 global robusta production estimate to 74.1 million bags from a June estimate of 78.0 million bags.  

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