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Barchart
Rich Asplund

Coffee Prices Fall as Rain Boosts Brazil's Coffee Crop Prospects

Ice Brazil arabica Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) on Friday closed down -1.05 (-0.71%), and Nov ICE robusta coffee (RMX23) closed down -7 (-0.28%).

Coffee prices Friday settled moderately lower, with arabica posting an 8-1/2 month nearest-futures low.  Forecasts for rain this week and next in Brazil's coffee-growing areas are weighing on arabica coffee prices.  Recent weakness in the Brazilian real is also bearish for coffee prices after the real (^USDBRL) fell to a 3-3/4 month low against the dollar on Wednesday, encouraging export selling by Brazil's coffee producers.  

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