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Barchart
Barchart
Rich Asplund

Coffee Prices Pressured by Dollar Strength and Improved Rain Chances in Brazil

Ice Brazil NOV USDA Vietnam Cecafe the USDA FAS

December arabica coffee (KCZ24) today is down -1.00 (-0.39%), and November ICE robusta coffee (RMX24) is down -139 (-2.86%).

Coffee prices today are moderately lower, with robusta coffee posting a 6-week low.  Today's rally in the dollar index (DXY00) to a 2-1/2 month high is bearish for most commodity prices, including coffee.  Also, improved chances for rain in Brazil eases drought concerns and is bearish for coffee prices after forecaster Maxar Technologies said today that precipitation will increase in Brazil this week and next.

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