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Barchart
Rich Asplund

Tight ICE Inventories Support Coffee Prices

Ice Brazil USDA Vietnam Cecafe the International Coffee Organization

December arabica coffee (KCZ24) today is up +2.35 (+0.95%), and November ICE robusta coffee (RMX24) is up +44 (+0.91%).

Coffee prices today are moderately higher, with robusta recovering from a 1-month low.  Tightness in coffee inventories is supportive of prices.  ICE-monitored arabica coffee inventories fell to a 4-month low of 795,874 bags last Thursday, and ICE-monitored robusta coffee inventories fell to a 4-1/2 month low of 4,253 lots Tuesday.  Coffee inventories had recently recovered as ICE-monitored arabica coffee inventories rose to a 1-1/2 year high of 858,474 bags on September 12, up from the 24-year low of 224,066 bags posted in November 2023.  Also, ICE-monitored robusta coffee inventories on July 25 rose to a 1-year high of 6,521 lots, up from the record low of 1,958 lots posted in February 2024.

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