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Barchart
Barchart
Rich Asplund

Coffee Prices Retreat on Forecasts for Rain in Brazil

Ice Brazil NOV USDA Vietnam Cecafe the International Coffee Organization the USDA FAS

December arabica coffee (KCZ24) today is down -4.40 (-1.68%), and November ICE robusta coffee (RMX24) is down -58 (-1.17%).

Coffee prices today gave up early gains and are moderately lower on the outlook for rain in Brazil.  Arabica coffee fell from a 1-1/2 week high today, and robusta fell from a 1-week high as long liquidation pressures knocked prices lower when meteorologist Climatempo said Brazil's top coffee producing areas should receive large volumes of rain starting this weekend.   Coffee prices added to their losses today when the Brazilian real (^USDBRL) fell to a 1-month low against the dollar, which encourages export selling from Brazil's coffee producers.

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