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Barchart
Barchart
Rich Asplund

Coffee Prices Plunge on Forecasts for Rain in Brazil

Ice Brazil USDA Vietnam Mar ICE the USDA FAS El Nino International Coffee Organization

March arabica coffee (KCH24) this morning is down -9.15 (-4.62%), and Mar ICE robusta coffee (RMH24) is down -79 (-2.69%).

Coffee prices this morning are sharply lower, with arabica falling to a 2-week low.   Forecasts for rain every day next week in Brazil's coffee-growing  regions eases concerns about dry conditions and sparked long liquidation in coffee futures.   Also, year-end position squaring by funds is weighing on coffee prices.  

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