A Chance For A Higher High In Coffee Fails – For Now

From: seekingalpha.com

Coffee futures trade in the futures market on the Intercontinental Exchange. Since 1973, the price range has been from 41.50 cents to $3.375 per pound. The ICE futures contract is for the delivery of Arabica beans, which are the most popular grade of coffee in the United States. Brazil is the world’s leading producer of Arabica coffee.

From 2007 through 2018, the price of ICE coffee futures never traded below $1 per pound. In August 2018, the price breached the $1 level and fell to 86.35 cents in April 2019. Since that low, coffee has made higher lows and peaked at $1.3840 per pound at the end of last year.

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