Coffee prices started the year on a low note as a pound traded at $1.2, compared to the previous month, December 2019, where the highest recorded price was $1.3 per pound. Coffee futures dipped further in February, as risk-off price action began. As March began, coffee prices took a bullish turn. On March 9, 2020, as stocks fell and most commodities plunged, coffee remained among the few commodities where prices were unaffected by the COVID-19 effects. While the prices of commodities dropped, the price of coffee futures closed higher.