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Barchart
Barchart
Rich Asplund

Coffee Prices Consolidate Recent Rally

Ice Brazil arabica Robusta the International Coffee Organization United States USDA

July arabica coffee (KCN23) on Friday closed down -2.25 (-1.20%), and July ICE robusta coffee (RMN23) closed up +4 (+0.17%).

Coffee prices Friday settled mixed, with arabica falling to a 2-1/2 week low.  Coffee prices consolidated their recent sharp rally seen over the past five weeks.   Coffee was under pressure Friday on concern that a slowdown in the global economy will curb coffee demand after Friday's news that the Eurozone economy grew slightly less than expected in Q1.  That came after Thursday's weaker-than-expected U.S. Q1 GDP report.  Pre-weekend short covering Friday lifted arabica from its worst levels and pushed robusta into positive territory.  

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