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Rich Asplund

Coffee Prices Soar Ahead of Friday's ICE Inventory Rule Change

Ice Vietnam Brazil the Intercontinental Exchange arabica El Nino ICO USDA FAS

March arabica coffee (KCH24) on Thursday closed up +12.00 (+6.95%), and Jan ICE robusta coffee (RMF24) closed up +88 (+3.49%).

Coffee prices Thursday rallied sharply, with arabica posting a 5-1/2 month high.  Coffee prices surged Thursday ahead of a new rule that begins Friday when the Intercontinental Exchange (ICE) will ban the resubmission of old coffee inventories, a loophole used by some sellers to dodge age penalties.  The new rule change by ICE is expected to add further pressure to ICE-monitored coffee inventories, providing support for coffee prices.

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