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Barchart
Barchart
Rich Asplund

Coffee Prices Continue the Sharp Sell-off

Ice Brazil NY Robusta Deficit Cooxupe El Nino Rabobank Somar Meteorologia USDA FAS

Sep arabica coffee (KCN23) today is down -2.50 (-1.55%), and Sep ICE robusta coffee (RMN23) is down -45 (-1.75%).

NY arabica coffee Friday fell back towards Thursday's 5-month low, while Sep robusta fell to a new 1-month low.  NY arabica coffee is being undercut by favorable weather in Brazil that has eased frost fears and paves the way for an even quicker harvest.  Somar Meteorologia on Monday said, "Dry weather continues to predominate over most of the producing areas (of Brazil) and will remain favorable for harvest activities throughout this week."

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