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Barchart
Rich Asplund

Coffee Closes Moderately Lower on Brazil Harvest Pressures

Brazil Ice Cooxupe Deficit El Nino Rabobank Robusta USDA FAS

Sep arabica coffee (KCN23) on Wednesday closed down -1.60 (-1.00%), and Sep ICE robusta coffee (RMN23) closed down -15 (-0.59%).

Coffee prices Wednesday posted moderate losses.  Ongoing dry weather in Brazil is accelerating the country's coffee harvest and is weighing on prices.   Cooxupe, Brazil's coffee export cooperative, reported Wednesday that Brazil's coffee harvest was 34.6% completed as of June 30, well ahead of the 25.7% completed at the same time last year.

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