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Barchart
Barchart
Rich Asplund

Coffee Prices Fall Sharply on Rain Forecasts for Brazil

Ice Brazil USDA Vietnam Mar ICE ICO the USDA FAS El Nino International Coffee Organization

March arabica coffee (KCH24) on Friday closed down -9.70 (-4.90%), and Mar ICE robusta coffee (RMH24) closed down -95 (-3.24%).

Coffee prices Friday sold off sharply, with arabica falling to a 2-week low.   Forecasts for rain every day next week in Brazil's coffee-growing regions have eased concerns about dry conditions and sparked long liquidation in coffee futures.   Also, the year-end position squaring by funds weighed on coffee prices.  

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