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Barchart
Barchart
Rich Asplund

Ever-Tighter Coffee Supplies are Pushing Prices Higher

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

Dec arabica coffee (KCZ23) this morning is up +2.20 (+1.34%), and Nov ICE robusta coffee (RMX23) is up +82 (+3.28%).

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 Thursday dropped to an 11-1/4 month low of 421,614 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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