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Barchart
Barchart
Rich Asplund

Arabica Coffee Posts Moderate Losses on Rain Forecasts for Brazil

Dec arabica coffee (KCZ23) on Thursday closed down -2.05 (-1.37%), and Nov ICE robusta coffee (RMX23) closed up +22 (+0.90%).

Coffee prices Thursday settled mixed, with arabica falling to a 3-week nearest-futures low.  Forecasts for rain this week and next in Brazil's coffee-growing areas are weighing on arabica coffee prices.  Recent weakness in the Brazilian real is also bearish for coffee prices after the real (^USDBRL) fell to a 3-3/4 month low against the dollar on Wednesday, encouraging export selling by Brazil's coffee producers.  

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