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Barchart
Barchart
Rich Asplund

Coffee Settles Higher on Tight ICE Coffee Inventories

Ice Vietnam Brazil USDA FAS El Nino ICO USDA

March arabica coffee (KCH24) on Monday closed up +0.90 (+0.54%), and Jan ICE robusta coffee (RMF24) closed up +1 (+0.04%).

Coffee prices on Monday closed moderately higher.  Nearest-futures arabica coffee (KCZ23) Monday posted a 5-1/4 month high, and robusta coffee on November 16 posted a 2-1/4 month high due to shrinking ICE coffee inventories.  ICE-monitored arabica coffee inventories on November 16 fell to a 24-year low of 289,699 bags.  Meanwhile, on Monday, ICE-monitored robusta coffee inventories were at 4,254 lots, moderately above the record low of 3,374 lots posted on August 31.  

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