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Rich Asplund

Coffee Prices Continue the Sharp Sell-off

Ice Brazil Deficit Cooxupe NY Rabobank Somar Meteorologia the US Climate Prediction Center USDA FAS

July arabica coffee (KCN23) today are down -2.65 (-1.60%), and July ICE robusta coffee (RMN23) is down -43 (-1.53%).

NY arabica coffee today fell to another new 5-month low, while July robusta continued to fall back from Tuesday's new record high (data since 2008).  Arabica coffee is seeing continued technical weakness with the new 5-month low, while robusta is seeing continued long liquidation pressure after the sharp 6-month-long rally to Tuesday's record high.

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