Coffee: Will ICE Arabica Coffee Futures Challenge the 2022 High in 2024?

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In my 2023 recap on soft commodities on Barchart, I highlighted the 12.55% annual gain in ICE coffee futures. Nearby Arabica coffee bean futures settled at $1.8830 per pound on December 29, 2023. Before the end of last year, in mid-November, I asked if it was the time to hop on the emerging bullish trend in coffee futures. I wrote: Meanwhile, the recent price action and rallies in the other soft commodities indicate that coffee futures could have lots of upside potential from the current price levels. On November 13, 2023, nearby ICE Arabica coffee futures were at $1.7805 per pound, while ICE …

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