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Barchart
Barchart
Rich Asplund

Brazilian Real Strength Sparks Short Covering in Coffee Futures

Brazil Ice FAs

March arabica coffee (KCH26) today is up +3.15 (+1.07%), and March ICE robusta coffee (RMH26) is up +68 (+1.81%).

Coffee prices are sharply higher today as strength in the Brazilian real (^USDBRL) has spurred short covering in coffee futures.  The real rallied to a 1.75-year high against the dollar today, discouraging export sales from Brazil's coffee producers.

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