May arabica coffee (KCK26) today is up +6.00 (+2.16%), and May ICE robusta coffee (RMK26) is up +72 (+2.02%).
Coffee prices recovered from early losses today and are moving higher, with arabica rebounding from a 15-month low. Strength in the Brazilian real has sparked short-covering in coffee futures today, with the real (^USDBRL) up +0.38% and just below Monday's 1.75-year high against the dollar. The stronger real discourages export sales from Brazil's coffee producers.
