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Barchart
Barchart
Rich Asplund

Tight Coffee Inventories are Boosting Prices

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

Dec arabica coffee (KCZ23) this morning is up +1.30 (+0.83%), and Nov ICE robusta coffee (RMX23) is up +13 (+0.54%).

Coffee prices this morning extended Tuesday's gains, with arabica climbing to a 4-week high and robusta climbing to a 2-week high.  Current coffee inventories are tight and supportive for prices as ICE-monitored arabica coffee inventories Tuesday dropped to an 11-1/4 month low of 432,022 bags.  Also, ICE-monitored robusta coffee inventories on August 31 fell to a record low of 3,374 lots (data history back to 2016).

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