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Barchart
Barchart
Rich Asplund

Coffee Prices Settle Mixed With Robusta Falling Back From a Record High

May arabica coffee (KCK24) on Thursday closed up +3.15 (+1.55%), and May ICE robusta coffee (RMK24) closed down -46 (-1.21%).

Coffee prices on Thursday settled mixed, with arabica climbing to a 5-3/4 month high and robusta posting a new record high.  Concern that excessive dryness in Vietnam will limit the country's robusta coffee production is bullish for robusta prices and provides carryover support to arabica coffee prices.  However, on Thursday, robusta gave up its advance and turned lower as profit-taking emerged after ICE-monitored robusta coffee inventories rose to a 2-1/2 month high of 3,094 lots.

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