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Rich Asplund

Brazil Harvest Pressures Weigh on Coffee Prices

Ice Brazil USDA Cooxupe Vietnam Safras Mercado United States Volcafe

July arabica coffee (KCN25) Tuesday closed down -6.50 (-1.80%), and July ICE robusta coffee (RMN25) closed down -113 (-2.50%).

Coffee prices on Tuesday gave up an early advance and sold off sharply due to Brazil's coffee harvest pressures.  Brazil's Cooxupe coffee co-op announced Tuesday that its members reported the coffee harvest was 13.7% complete, compared with 13.6% at the same time last year.  Cooxupe is Brazil's largest coffee cooperative.  It is also the world's largest coffee cooperative and Brazil's largest exporter of coffee.

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