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Barchart
Barchart
Rich Asplund

Coffee Prices Push Higher on Brazilian Real Strength

Ice Brazil arabica Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) this morning is up +0.60 (+0.36%), and Nov ICE robusta coffee (RMX23) is up +73 (+2.83%).

Coffee prices today extended last week's rally, with arabica posting a 2-1/2 month high and robusta posting a 5-week high.  Today's rally in the Brazilian real (^USDBRL) to a 3-week high against the dollar is supporting coffee prices.  The stronger real discourages export selling from Brazil's coffee producers.

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