Higher Shipping Costs Boost Coffee Prices [Yahoo! Finance]
StoneX Group Inc. (SNEX)
Company Research
Source: Yahoo! Finance
Coffee prices are climbing today, with robusta posting a 1-week high. The closure of the Strait of Hormuz has disrupted global shipping and is supportive of coffee prices. The closure of the waterway has increased global shipping rates, insurance, and fuel costs, and raises costs for coffee importers and roasters. Robusta coffee also has support from tighter inventories, as ICE robusta inventories fell to a 2-month low of 4,285 lots today. More News from Barchart Massive Meatpacking Strike: What Does It Mean for Beef Prices, Cattle as 3,800 Workers Go on Strike? Arabica Coffee Closes Lower on a Bumper Brazil Crop and Abundant ICE Inventories Cocoa Prices Fall on an Improved Supply Outlook Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. On Monday, arabica coffee fell to a 2-week low, and May robusta fell to a contract low, as abundant rains in Brazil eased crop concerns.
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