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Barchart
Barchart
Rich Asplund

Coffee Prices Pressured by Brazilian Real Weakness

July arabica coffee (KCN26) on Friday closed down -0.65 (-0.26%), and July ICE robusta coffee (RMN26) closed down -36 (-1.07%).

Coffee prices settled lower on Friday, with arabica posting a 19-month nearest-futures low and robusta posting a 7-week low. Weakness in the Brazilian real (^USDBRL) weighed on coffee prices as the real fell to a 1.75-month low against the dollar on Friday, encouraging export sales by Brazil’s coffee producers. Losses in arabica coffee were limited on Friday amid persistent tightness in the spot market as ICE-monitored arabica coffee inventories fell to a 5.75-month low.

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