Arabica coffee futures traded around $11.5 per pound in the last week of November, retreating from a 2-month high of $12 per pound the week before, as fears over adverse weather in Brazil and Central America eased slightly after hurricane Iota passed. Also weighing on coffee prices was a report from the USDA Foreign Agricultural Service which forecasts coffee production in Brazil will rise 14.5% to a record 67.9 million bags in 2020/2021. On the demand side, fresh coronavirus-induced lockdowns in some of Europe's major cities hit coffee consumption.
Historically, Coffee reached an all time high of 339.86 in April of 1977. Coffee - data, forecasts, historical chart - was last updated on November of 2020.
Coffee is expected to trade at 112.98 USd/Lbs by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 95.71 in 12 months time.