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Barchart
Rich Asplund

Coffee Prices Give Back More than Half of Monday's Surge

Ice Brazil Vietnam El Niño FAs

September arabica coffee (KCU26) on Tuesday closed down -32.35 (-9.24%), and September ICE robusta coffee (RMU26) closed down -172 (-4.25%).

Coffee prices settled sharply lower on Tuesday, giving back some of Monday's parabolic rally. The recent rally in coffee prices to Monday's significant highs pushed prices to heavily overbought levels, sparking technical selling that prompted profit-taking. Also, Intercontinental Exchange's action to raise margin requirements for coffee futures trading has fueled long liquidation pressures, which have weighed on prices.

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