December arabica coffee (KCZ26) is up +6.50 (+2.23%) today, and November ICE robusta coffee (RMX26) is up +46 (+1.33%).
Coffee prices are climbing today, with robusta posting a 1-week high. Tightness in near-term supplies is bullish for arabica coffee prices, as ICE arabica coffee inventories fell to a 27-year low of 218,838 bags on Tuesday. Robusta coffee has support on concern that heavy rains in Vietnam’s Central Highlands, the country’s largest coffee-producing region, may flood farms and damage the country’s coffee crop.