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Barchart
Barchart
Rich Asplund

Coffee Prices Retreat from Monday's Highs

September arabica coffee (KCU26) today is down -32.00 (-9.14%), and September ICE robusta coffee (RMU26) is down -189 (-4.67%).

Coffee prices are falling sharply today, giving back some of Monday's parabolic rally. The recent rally in coffee prices to Monday's significant highs pushed prices to heavily overbought levels, sparking technical selling that prompted profit-taking. Also, Intercontinental Exchange's action to raise margin requirements for coffee futures trading has fueled some long liquidation pressures and weighed on prices.

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