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Rich Asplund

Arabica Coffee Closes Lower on Brazilian Real Weakness

Brazil Ice arabica Robusta USDA

May arabica coffee (KCK23) on Wednesday closed down -2.70 (-1.32%), and May ICE robusta coffee (RMK23) closed up +26 (+1.06%).

Coffee prices Wednesday initially extended their sharp two-week rally, with arabica posting a 6-1/4 month nearest-futures high and robusta posting a 1-1/4 year high. Expectations for smaller global coffee supplies are fueling fund buying of coffee futures.

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