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Rich Asplund

Coffee Prices Underpinned by Tight Supplies

Ice Brazil arabica Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) on Friday closed up +1.30 (+0.79%), and Nov ICE robusta coffee (RMX23) closed up +80 (+3.20%).

Coffee prices this morning extended this week's rally, with arabica posting a 2-1/2 month high and robusta posting a 1-month high.  Shrinking coffee inventories are pushing coffee prices higher as ICE-monitored arabica coffee inventories Friday dropped to an 11-1/4 month low of 421,424 bags.  Also, ICE-monitored robusta coffee inventories are just above the record low of 3,374 lots posted on August 31.

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