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Barchart
Barchart
Rich Asplund

Coffee Prices Under Pressure on Improved Supply Prospects

Ice Brazil Vietnam ICO International Coffee Organization USDA

July arabica coffee (KCN24) this morning is down -0.10 (-0.05%), and July ICE robusta coffee (RMN24) is down -193 (-5.45%).

Coffee prices this morning are weaker, with arabica posting a 5-week low and robusta falling to a 6-week low.  A rebound in ICE coffee inventories has also eased supply concerns and is bearish for coffee prices after ICE-monitored arabica coffee inventories rose to a 1-year high last Friday, and ICE-monitored robusta coffee inventories rose to a 5-month high.  Robusta coffee is sharply lower today as it reopened after a long weekend after trading in robusta was closed on Monday for a holiday.

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