December arabica coffee (KCZ24) Friday closed up +2.85 (+1.02%), and January ICE robusta coffee (RMF25) closed down -4 (-0.08%).
Coffee prices settled mixed on Friday as prices consolidated this week's sharp rally. Coffee prices surged this week, with arabica posting a 13-year nearest-futures high Thursday and robusta posting a 1-month high Friday on potential supply concerns after the European Parliament voted to change its deforestation regulations. If the EU cannot agree on changes to the rules before next month's deadline, the EU Deforestation Regulation will be implemented, which could curb supplies of coffee from countries such as Brazil and Indonesia, where deforestation occurs. The EU's Deforestation Regulation measure, known as EUDR, says companies must ensure the products they bring into the EU weren't made in areas deforested or degraded after 2020.
The Wombat has Rule 5 Sunday: Nothing’s Fishy ready at The Other McCain on time and under budget.
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