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Barchart
Barchart
Rich Asplund

Coffee Prices Close Sharply Lower on Forecasts for Rain in Brazil

May arabica coffee (KCK24) on Friday closed down -7.00 (-3.64%), and May ICE robusta coffee (RMK24) closed down -84 (-2.48%).

Coffee prices on Friday closed sharply lower as improved prospects for rain in Brazil eased dryness concerns and spurred long liquidation in coffee futures.   Forecaster Maxar Technologies said Friday that moderate rain is expected in Brazil's coffee-growing regions over the next five days.  Losses in coffee prices accelerated after the Brazilian real  (^USDBRL) fell to a 1-week low against the dollar, which encourages export selling from Brazil's coffee producers.  

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