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Barchart
Barchart
Rich Asplund

Arabica Coffee Sinks on Brazil Harvest Pressures and Technical Selling

Brazil Ice arabica the USDA FAS USDA Vietnam Cooxupe the International Coffee Organization the US Climate Prediction Center

July arabica coffee (KCN23) this morning is down -8.20 (-4.43%), and July ICE robusta coffee (RMN23) is down -33 (-1.16%).

Coffee prices this morning are sharply lower, with arabica dropping to a 2-1/2 week low.  Forecasts for favorable weather in Brazil that will allow farmers to finish the country's coffee harvest is weighing on prices.  Losses in arabica coffee accelerated today on technical selling after prices dropped below the 100-day and 200-day moving averages.

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