Sunday 14 August 2022

Coffee futures move up further on speculative buying

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MILAN – Coffee futures rose to new highs on Tuesday following a weak start of the week. The most active contract for May delivery on the ICE Futures U.S. exchange gained 2.4% to end at $1.365 a pound equalling highs hit in mid-October 2015.

Robusta futures for May delivery were up US$41 and closed at US$1,514 just below the daily high of US$1,516. The new surge in prices was helped by speculative buying, encouraged by technical behavior.

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