Dec arabica coffee (KCZ23) on Monday closed up +4.20 (+2.83%), and Nov ICE robusta coffee (RMX23) closed up +32 (+1.33%).
Coffee prices Monday moved sharply higher. Arabica recovered from a 3-week low Monday and rallied sharply on signs of tight supplies. ICE-monitored arabica coffee inventories on Monday dropped to a 10-month low of 442,553 bags. Also, ICE-monitored robusta coffee inventories on August 31 fell to a record low of 3,374 lots (data history back to 2016), although those inventories have since rebounded slightly to a 2-week high Monday.
