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Rich Asplund

UNBELIEVABLE: Coffee prices close lower as supply concerns temporarily ease | History Defined

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

Dec arabica coffee (KCZ23) on Wednesday closed down -2.75 (-1.71%), and Nov ICE robusta coffee (RMX23) closed down -32 (-1.26%).

Coffee prices on Wednesday posted moderate losses. Arabica prices came under pressure Wednesday after Conab, Brazil's crop forecasting agency, raised its 2023 Brazil arabica coffee crop estimate to 38.2 million bags from May's forecast of 37.9 million bags. Robusta coffee retreated Wednesday after ICE-monitored robusta coffee inventories rose to a 5-week high of 4,172 lots.

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