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Barchart
Barchart
Rich Asplund

Coffee Prices Rally on Tighter Global Supplies and Dollar Weakness

Ice arabica Brazil Robusta USDA the USDA FAS Vietnam

July arabica coffee (KCN23) this morning is up +4.80 (+2.69%), and July ICE robusta coffee (RMN23) is up +55 (+2.15%).

Coffee prices today are sharply higher, with robusta posting a 1-week high.  Smaller ICE arabica inventories are boosting prices as ICE arabica coffee inventories have steadily declined over the past three months and fell to a 6-month low Wednesday of 583,518 bags.   A decline in the dollar index (DXY00) today to a 1-week low also supported coffee prices.

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