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Barchart
Barchart
Rich Asplund

Coffee Prices Plummet on Long Liquidation Pressures

Ice Brazil Arabica USDA Vietnam Cecafe the International Coffee Organization

March arabica coffee (KCH25) Monday closed down -22.00 (-6.92%), and January ICE robusta coffee (RMF25) closed down -575 (-10.63%).

Coffee prices plummeted Monday to 1-week lows.  Long liquidation pressures weighed on coffee prices Monday after J. Ganes Consulting said that keeping a large amount of capital tied into a position in coffee may no longer be justified after ICE raised its margins for holding positions in coffee futures last week.   Also, weakness in the Brazilian real (^USDBRL) is bearish for coffee, as the real fell -1.62% Monday, just above last Friday's record low against the dollar.  The weaker real encourages export selling from Brazil's coffee producers.  

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