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Rich Asplund

SHOCKING: Coffee prices settle sharply higher on mounting supply concerns - You Need To See This

Ice Brazil International Coffee Organization USDA

May arabica coffee (KCK23) on Thursday closed up +5.85 (+3.07%), and May ICE robusta coffee (RMK23) closed up +35 (+1.45%).

Coffee prices Thursday extended this week's rally, with arabica climbing to a 1-3/4 month high and robusta posting a 3-1/4 month high.  Mounting supply concerns have sparked fund buying of coffee futures.  The Colombia Coffee Growers Federation reported late Wednesday that Colombia Mar coffee exports fell -19% y/y to 906,000 bags.  Colombia is the world's second-largest arabica bean producer.

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