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Barchart
Barchart
Rich Asplund

Coffee Prices Plunge 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) today is down -13.50 (-5.25%), and November ICE robusta coffee (RMX24) is down -197 (-3.89%).

Coffee prices today plunged to 2-1/2 week lows.  Forecasts for rain in Brazil have eased drought concerns and sparked long liquidation in coffee futures.  Forecaster Maxar Technologies said today that substantial 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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