The coffee contract that has set prices since 1882 is being retired.

The coffee contract that has set prices since 1882 is being retired.

This week the first trades went through on ICE's new metric arabica futures, Perfect Daily Grind reports: 48 lots for September 2028, at about $5,724 to $5,737 a tonne. That's roughly $2.60 a pound. The old "C" contract, in use since 1882, has its final expiry month in March 2028.

For most people that's a boring finance story. For a small roaster it's the number behind every bag I sell. When someone asks why a bag costs what it does, the honest answer starts on a trading screen in New York.

Some good news the same week: arabica futures fell to a seven-week low, and Brazil shipped a record 5.3 million bags in October.

Some not-so-good news: growers in parts of Brazil are watching the heat and El Niño nervously for next year's crop.

So no, I won't cut prices on the back of one good week. Coffee has taught me that much.

But I will tell the cafés we roast for exactly what we pay and when it changes. Shared numbers make for calmer conversations than surprises.