December arabica coffee (KCZ26) closed down -2.10 (-0.74%) on Wednesday, and November ICE robusta coffee (RMX26) closed down -51 (-1.47%).
Coffee prices extended their three-week-long decline on Wednesday, with arabica falling to a 2.5-month low. Coffee prices have been under pressure over the past three weeks on the outlook for abundant global supplies. Last Thursday, the International Coffee Organization (ICO) projected a record global coffee crop and a surplus. ICO said 2025/26 global coffee production rose +4.4% y/y to a record 183.6 million bags and consumption fell -0.9% y/y to 180.6 million bags, leaving the global coffee market in a 3 million bag surplus, the first surplus in five years.