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Rich Asplund

THE TRUTH ABOUT: Coffee prices consolidate after the recent rally - The Untold Story

Ice Brazil Robusta USDA International Coffee Organization

May arabica coffee (KCK23) on Wednesday closed down -0.25 (-0.13%), and May ICE robusta coffee (RMK23) closed up +6 (+0.25%).

Coffee prices Wednesday gave up an early advance and settled mixed, with robusta posting a 3-month high. After the sharp rally over the past 1-1/2 weeks, profit-taking emerged in coffee futures Wednesday. The outlook for tighter global coffee supplies has recently sparked fund buying of coffee futures and pushed prices higher, with arabica on Wednesday posting a 6-week high.

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