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Barchart
Barchart
Rich Asplund

Coffee Prices Erase Early Gains as Brazil’s Coffee Warehouses Fill

December arabica coffee (KCZ26) closed down -6.15 (-1.80%) on Tuesday, and November ICE robusta coffee (RMX26) closed down -111 (-2.92%).

Coffee prices gave up an early advance on Tuesday and fell sharply on reports that some warehouses in Brazil are no longer accepting new coffee supplies as space fills up, suggesting farmers holding back sales in hopes of higher prices will have to increase coffee sales as storage space dwindles. Losses in robusta coffee accelerated on Tuesday after ICE robusta coffee inventories jumped to a 9-month high.

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