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Barchart
Rich Asplund

Coffee Prices Climb on Brazil Real Strength and Tight Robusta Supplies

Ice Brazil Arabica Deficit Vietnam Cecafe Colombia El Nino Rabobank USDA FAS

Sep arabica coffee (KCU23) this morning is up +3.40 (+2.16%), and Sep ICE robusta coffee (RMU23) is up +6 (+0.24%).

Coffee prices this morning are moderately higher.   Strength in the Brazilian real (^USDBRL) supports coffee prices as the real rose to a 1-1/2 week high today against the dollar.  The stronger real discourages export selling from Brazil's coffee producers.  Robusta coffee has support on tight supplies as ICE-monitored robusta coffee inventories Wednesday fell to a record low of 5,435 lots (data history back to 2016).  Gains in robusta are limited on negative carryover from Thursday when Cecafe reported Brazil's Jun robusta exports rose +60% y/y to 230,653 bags.

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