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Barchart
Barchart
Rich Asplund

Arabica Coffee Pushes Higher on Brazilian Real Strength

May arabica coffee (KCK25) today is up +6.50 (+1.77%), and May ICE robusta coffee (RMK25) is down -67 (-1.28%).

Coffee prices today are mixed, with robusta falling to a 1-week low.  Arabica coffee is climbing today due to strength in the Brazilian real (^USDBRL).  The real today rose to a 2-week high against the dollar, discouraging export selling from Brazil's coffee producers.  However, gains in arabica coffee are limited, and robusta coffee is under pressure from increased coffee supplies.  ICE-monitored robusta coffee inventories rose to a 1-week high of 4,272 lots last Thursday, and ICE-monitored arabica coffee inventories rose to a 5-week high Monday of 801,549 bags.

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