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Barchart
Barchart
Rich Asplund

Coffee Prices Fall Amid a Broad Selloff in Risk Assets

Ice the Federal Reserve US Federal Reserve Brazil Vietnam El Nino ICO Interest Rates the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) this morning is down -3.10 (-1.96%), and Nov ICE robusta coffee (RMX23) is down -50 (-1.99%).

Coffee prices are retreating today on a broader selloff in risk assets after the Federal Reserve signaled higher interest rates for longer following Wednesday's FOMC meeting.  Weakness in the Brazilian real was also bearish for coffee prices as the real today (^USDBRL) dropped to a 1-week low against the dollar.  The weaker real encourages export selling by Brazil's coffee producers.

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