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Barchart
Barchart
Rich Asplund

Coffee Prices Extend Sell-off on Favorable Harvest Weather in Brazil

Ice Brazil NY Deficit El Nino Rabobank Somar Meteorologia USDA FAS

Sep arabica coffee (KCN23) Friday closed down -2.60 (-1.61%), and Sep ICE robusta coffee (RMN23) closed down -79 (-3.07%).

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 eased frost fears and paved 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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