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Barchart
Barchart
Rich Asplund

Coffee Prices Finish Sharply Lower on Forecasts for Beneficial Rain in Brazil

Ice Brazil Maxar Technologies the USDA FAS Vietnam Drought Cecafe ICO the International Coffee Organization USDA

December arabica coffee (KCZ24) Monday closed down -12.70 (-4.93%), and November ICE robusta coffee (RMX24) closed down -199 (-3.93%).

Coffee prices Monday plunged to 2-1/2 week lows.  Forecasts for rain in Brazil eased drought concerns and sparked long liquidation in coffee futures.  Forecaster Maxar Technologies said Monday that substantial rain showers are expected this week into next week for Brazil's coffee-growing regions, which should improve moisture and crop conditions.  

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