Arabica coffee futures on ICE were trading around $2.33 per pound, down slightly from an over six-month high of $2.43 scaled on August 25th, as the focus remained on weather in top producer Brazil. The prospect of rain in some parts of Brazil's coffee areas during the next couple of weeks has contributed to the setback, but dealers said that concerns remain over whether there is sufficient moisture to sustain development of coffee buds and cherries after some early flowering. Meanwhile, the latest data indicated ICE-certified arabica stocks on August 31th stood at 672,585 bags after rebounding from a 23-year low of 571,580 bags on August 15th. .
Historically, Coffee reached an all time high of 339.86 in April of 1977. Coffee - data, forecasts, historical chart - was last updated on September of 2022.
Coffee is expected to trade at 239.33 USd/Lbs by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 260.52 in 12 months time.