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Barchart
Barchart
Rich Asplund

Arabica Coffee Settles Higher as Last Friday's Plunge Seen as Excessive

Ice USDA Mar ICE Brazil Vietnam the USDA FAS ICO International Coffee Organization

March arabica coffee (KCH24) on Tuesday closed up +1.85 (+0.98%), and Mar ICE robusta coffee (RMH24) closed down -37 (-1.30%).

Coffee prices on Tuesday settled mixed, with robusta falling to a 2-week low.   Arabica coffee recovered some of last Friday's sharp losses that were seen as excessive in illiquid holiday trade.  Gains in arabica on Tuesday were limited as forecasts for rain in Brazil's coffee-growing regions have eased concerns about dry conditions.   Also, a decline in the Brazilian real (^USDBRL) Tuesday to a 1-week low against the dollar is negative for coffee prices.  The weaker real encourages export selling by Brazil's coffee producers.

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