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Barchart
Barchart
Rich Asplund

SHOCKING: Coffee prices supported by the outlook of smaller brazil supplies | Mind Blowing Facts

March arabica coffee (KCH25) today is up +3.50 (+1.21%), and January ICE robusta coffee (RMF25) is up +8 (+0.17%).

Coffee prices today added to Wednesday's sharp gains, with Mar arabica posting a contract high and Dec arabica posting a new  13-year nearest-futures high.   Coffee prices gained today after the USDA's Foreign Agricultural Service (FAS) projected Brazil's 2024/25 coffee production at 66.4 MMT, below the USDA official forecast of 69.9 MMT.  The USDA's FAS also projected Brazil's coffee inventories of 1.2 million bags when the 2024/25 season ends in June, down a -26% y/y.  Coffee prices fell from their best levels today as a stronger dollar sparked profit-taking and long liquidation in coffee futures.  

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