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Barchart
Barchart
Rich Asplund

HISTORICAL FACTS: Coffee closes higher on weather concerns - The Untold Story

Ice Brazil Climatempo Colombia Deficit Vietnam arabica Cecafe El Nino ICO

Dec arabica coffee (KCZ23) on Wednesday closed up +2.25 (+1.47%), and Nov ICE robusta coffee (RMX23) closed up +47 (+1.92%).

Coffee prices on Wednesday settled moderately higher, with robusta posting a 2-week high.  Weather concerns in Brazil and Colombia boosted coffee prices Wednesday after Climatempo said high temperatures and infrequent rain are expected in the coming weeks for Brazil, and diminished rainfall is expected for Colombia.   Brazil and Colombia are the world's largest arabica coffee producers.  Also, robusta has support on record low supplies after ICE-monitored robusta coffee inventories on Wednesday fell to a record low of 3,380 lots (data history back to 2016).

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