Arabica Coffee Hits One-Month High as Exchange Stocks Stay Critically Low
ICE arabica coffee futures settled up 10.8 cents, or 3.7%, at $3.056 per pound after touching a one-month high. Market participants were concerned that critically low exchange stocks would not be replenished as soon as previously expected.
ICE arabica coffee futures climbed to a one-month high on Friday, as traders worried that critically low exchange stocks might take longer to replenish than previously anticipated. Arabica coffee (ICEUS:KC1!) settled 10.8 cents higher, a gain of 3.7%, at $3.056 per lb. It earlier hit a o…