55 East 52nd Street

New York, NY 10055

BY ELECTRONIC TRANSMISSION

Submission No. 24-6

January 11, 2024

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendments to Coffee “C”® Appendix IV (Coffee “C” Differentials) 

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.6 

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, and 

Commodity Futures Trading Commission (“Commission”) Regulation 40.6(a), ICE Futures U.S., 

Inc. (“IFUS” or “Exchange”) self certifies the amendments to Coffee “C” Appendix IV set forth 

in Exhibit A. As described below, the amendments to the Appendix revise the differentials for 

four of the origins of coffee that are deliverable against the Coffee “C” futures contract. 

The amendments to Appendix IV revise the delivery differential for coffee grown in 

Guatemala, Costa Rica, Kenya and Columbia as shown below:

Colombia - Differential is being increased to a 10 cent per pound 

premium, from the current 6 cent per pound premium.

Kenya and Costa Rica - Differential is being increased to a 10 cent per pound 

premium, from the current par delivery level.

Guatemala - Differential is being increased to a 5 cent per pound 

premium, from the current par delivery level.

The Exchange’s Coffee Committee (the “Committee”) conducted a review of commercial origin 

differentials, which it noted were constantly subject to change both within and across crop years. 

Based on their observations of commercial origin differentials in recent past years, the Committee 

came to a consensus with respect to the differentials for the foregoing origins and recommended 

the above levels by unanimous vote. 
The Committee also voted to recommend that each of the revised levels be implemented on the 

first delivery month that is at least 24 months after the date the amendments are filed with the 

Commission, as authorized under Article XVII, Section 17.1 of Exchange’s Bylaws

1

.

The Exchange’s Board of Directors subsequently approved the recommendations from the 

Committee by unanimous vote. The Exchange will make the amendments effective on January 

26, 2024, for the March 2026 contract and all subsequent months. 

The Exchange is not aware of any opposing views to the amendments and certifies that the 

amendments to the Coffee Rules comply with the requirements of the Commodity Exchange Act 

and the rules and regulations promulgated thereunder. Specifically, the amendments comply with 

designated contract market core principle 3 (Contracts not Subject to Manipulation). The 

amendments to the rules better reflect current commercial origin differentials better aligning the 

contract with the underlying cash market. The Exchange further certifies that, concurrent with this 

filing, a copy of this submission was posted on the Exchange’s website and may be accessed at 

((https://www.theice.com/futures-us/regulation#rule-filings). 

If you have any questions or need further information, please contact Tim Barry at 212-

748-4096 or tim.barry@ice.com or the undersigned at 212-748-4021 or jason.fusco@ice.com.

 Sincerely yours,

Jason V. Fusco

General Counsel 

1 Article VIII, Section 17.1. - Unless otherwise provided in the Rules, any alteration of the Rules relating to 

Commodity Contracts, may, if the Board of Directors so decides, be binding on Commodity Contracts entered into 

before as well as after its adoption, provided such alteration does not materially affect the amount of money to be paid, 

or the quality of the merchandise to be received, under such Commodity Contracts, in which case such alteration may 

only apply with respect to the first delivery or expiration month following the last delivery or expiration month in 

which there is an open position at the time such alteration becomes effective; provided, however, that (i) with respect 

to the Coffee “C” futures and options contracts, that any such alteration, that is consistent with the Act and the 

regulations thereunder, may be implemented to any delivery or expiration month with respect to which the first (1st) 

day delivery notices may be issued is more than twenty-four (24) months away, whether or not such delivery or 

expiration month has any open interest, and (ii) with respect to precious metal futures and options contracts, that any 

such alteration that is consistent with the Act and the regulations thereunder may be implemented to the contract month 

that is the fourth, regular listed delivery month (and all options on such delivery month) on the date that such alterations 

are announced by the Exchange, and to all delivery and option expiration months following such fourth regular listed 

delivery month, whether or not such delivery or expiration month has any open interest.

Exhibit A

(In the text below, deletions are overstruck and additions are underscored.)

APPENDIX IV

Coffee "C" Differentials

The differentials for coffees delivered under the Coffee “C” Futures Contract are as follows:

(1) There will be a differential of ten (10) points for each full imperfection below the basis. No 

delivery of coffee containing more than fifteen (15) full imperfections below the basis, or twenty-three 

(23) full imperfections, shall be permitted; except that in the case of Colombian coffee, no delivery 

containing more than ten (10) full imperfections below the basis shall be permitted.

(2) The differences in value between various grades and growths shall be as follows:

Schedule C-2

Mexico, Salvador, [Guatemala, Costa Rica,] Nicaragua, [Kenya,] Papua New Guinea, 

Tanzania,

Uganda, Panama, Peru and 

Honduras...............................................................................................................................Basis

Guatemala......................................................................................Plus 500 

pts.

Colombia, Costa Rica and Kenya......................................................................Plus [4]1000 pts.

Venezuela, Burundi, Rwanda and India ..................... ..........................................Minus 100 

pts.

Dominican Republic, Ecuador ..............................................................................Minus 400 pts.

Brazil .....................................................................................................................Minus 600 pts

* * *

(balance of the Rule unchanged.)