finance
Arabica Coffee Futures Rise 18.5 Percent in Largest One-Day Gain Since 2000
New York Arabica coffee futures rose as much as 18.5 percent on July 6 to $3.57 per pound. The single-session gain was the largest since July 2000 amid low inventories and Brazilian weather concerns.
Jul 7, 5:45 AM·1m read1 source
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Arabica coffee futures prices jumped as much as 18.5 percent on Monday to $3.57 per pound, the highest level since January, ZeroHedge reported. The single-session gain was the largest since July 18, 2000. Arabica inventories in exchange-monitored warehouses reached their lowest levels since March 2024.
The Intercontinental Exchange raised margin requirements on Arabica coffee futures the week before the rally. Judy Ganes, president at J. Ganes Consulting, stated that the move reflected fear and trader covering but was hard to justify fundamentally.
Rural Clima meteorologist Marco Antonio dos Santos said rain forecast for a large part of Brazil in mid-July would be detrimental to crops including coffee and was directly linked to El Niño, which has been gaining strength week after week. The rally adds to a broader El Niño-driven surge across soft commodities.
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