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Barchart
Rich Asplund

Brazilian Real Strength Sparks Short Covering in Coffee Futures

Brazil Ice USDA Vietnam ICO Cecafe Volcafe

September arabica coffee (KCU24) on Wednesday closed up +4.30 (+1.85%), and Sep ICE robusta coffee (RMU24) closed up +97 (+2.22%).

Coffee prices on Wednesday settled moderately higher.  Wednesday's rally in the Brazilian real (^USDBRL) to a 4-week high against the dollar fueled short covering in coffee futures.  The stronger real discourages export selling from Brazil's coffee producers.

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