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Barchart
Barchart
Rich Asplund

Robusta Coffee Soars to a Record on Global Supply Concerns

Ice Robusta Brazil USDA arabica

July arabica coffee (KCN23) this morning is down -2.45 (-1.28%), and July ICE robusta coffee (RMN23) is up +43 (+1.66%).

Coffee prices this morning are mixed, with July robust a posting a contract high and near-futures robusta (K23) rallying to a record high (data from 2008).  Robusta coffee soared to a record high today after the USDA's FAS projected 2023/24 Indonesian coffee production will fall -18% y/y to 9.7 mln bags after excessive rain disrupted the coffee development stage.  Indonesia is the world's third-largest robusta coffee producer.

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