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Barchart
Rich Asplund

Arabica Coffee Settles Higher on Strength in the Brazilian Real

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

March arabica coffee (KCH24) on Thursday closed up +2.90 (+1.60%), and Mar ICE robusta coffee (RMH24) closed down -12 (-0.41%).

Coffee prices on Thursday settled mixed, with arabica posting a 1-week high.  Arabica coffee found support from Thursday's rally in the Brazilian real (^USDBRL) to a 1-week high against the dollar.  A stronger real discourages export selling by Brazil's coffee producers.  Robusta prices gave up early gains and turned lower Thursday after Vietnam's General Department of Customs revised its Vietnam 2023 coffee export volume upward to 1.62 MMT from 1.60 MMT last month.

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