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Barchart
Rich Asplund

Arabica Coffee Falls Sharply on Long Liquidation Pressure

Ice Brazil USDA Conab Vietnam ICO the USDA FAS Vietnam General Statistics Office Volcafe

March arabica coffee (KCH25) Tuesday closed down -15.60 (-3.64%), and March ICE robusta coffee (RMH25) closed down -18 (-0.32%).

Coffee prices on Tuesday gave up early gains and turned lower, with arabica falling sharply on long liquidation pressure.  Coffee prices initially moved higher on Tuesday, with arabica coffee posting a new all-time nearest-futures high.  Below-normal rain in Brazil heightened coffee crop concerns and is bullish for coffee prices after Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 53.9 mm of rain last week, or 85% of the historical average.  Brazil is the world's biggest arabica coffee growing country.

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