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Barchart
Barchart
Rich Asplund

Coffee Settles Higher on Tight Supplies and Increased Robusta Demand from Roasters

Ice Robusta Brazil the USDA FAS USDA Vietnam

July arabica coffee (KCN23) on Wednesday closed up +2.80 (+1.53%), and July ICE robusta coffee (RMN23) closed up +60 (+2.30%).

Coffee prices Wednesday posted moderate gains, with robusta climbing to a 2-week high.  A weaker dollar Wednesday (DXY00) was supportive of coffee prices.  Smaller ICE arabica inventories are supportive of prices as ICE arabica coffee inventories have steadily declined over the past four months and fell to a 6-1/2 month low Wednesday of 555,206 bags.

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