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Barchart
Barchart
Rich Asplund

Coffee Prices Gain on Brazilian Real Strength and Tight Supplies

Ice Brazil Robusta USDA the USDA FAS arabica Cooxupe the US Climate Prediction Center Vietnam

July arabica coffee (KCN23) on Thursday closed up +2.60 (+1.41%), and July ICE robusta coffee (RMN23) closed up +79 (+2.90%).

Coffee prices Thursday rose sharply, with robusta posting a record high (data from 2008).  Strength in the Brazilian real (^USDBRL) is bullish for coffee prices as the real Thursday climbed to a 1-year high against the dollar.  The stronger real discourages export selling from Brazi's coffee producers.  Robusta has support from increased demand from roasters who are substituting arabica beans for cheaper robusta beans in a variety of retail coffee blends to control production costs and shield consumers from inflation.

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