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Barchart
Barchart
Rich Asplund

Coffee Prices Settle Higher on Tight Supplies

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Sep arabica coffee (KCU23) on Monday closed up +2.60 (+1.61%), and Sep ICE robusta coffee (RMU23) closed up +70 (+2.68%).

Coffee prices Monday settled moderately higher.  Tighter coffee supplies are supporting prices after ICE-monitored robusta coffee inventories last Thursday fell to a record low of 5,096 lots (data history back to 2016).  Also, last Thursday, ICE-monitored arabica coffee inventories dropped to an 8-1/2 month low of 527,942 bags.  In addition, coffee is seeing support from a lack of sales by coffee farmers in Brazil, who are holding back supplies in anticipation of higher coffee prices.

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