Coffee futures are going to To da moon today ☕
Robusta coffee (January contract) rose 2.37% to 107 cents, reaching a two-week high. Arabica coffee also increased by 0.57%.
Two major driving forces:
1️⃣ Heavy rain in Vietnam - The heavy rain in the Central Highlands of Vietnam's largest coffee-producing province, Dak Lak, has delayed the harvest, with further rainfall threatening production.
2️⃣ Weak dollar - Dollar depreciation triggers short covering
Deeper matters:
U.S. coffee inventories are shrinking. ICE Arabica stocks have fallen to a 1.75-year low (396,000 bags), and Robusta invento
View OriginalRobusta coffee (January contract) rose 2.37% to 107 cents, reaching a two-week high. Arabica coffee also increased by 0.57%.
Two major driving forces:
1️⃣ Heavy rain in Vietnam - The heavy rain in the Central Highlands of Vietnam's largest coffee-producing province, Dak Lak, has delayed the harvest, with further rainfall threatening production.
2️⃣ Weak dollar - Dollar depreciation triggers short covering
Deeper matters:
U.S. coffee inventories are shrinking. ICE Arabica stocks have fallen to a 1.75-year low (396,000 bags), and Robusta invento

