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Rich Asplund

Coffee Prices Retreat on Forecasts for Steady Rain in Brazil

Ice Brazil Maxar Technologies Vietnam ICO USDA FAS

Dec arabica coffee (KCZ23) this morning is down -7.30 (-4.36%), and Jan ICE robusta coffee (RMF24) is down -50 (-2.11%).

Coffee prices this morning are sharply lower as forecasts for steady rain in Brazil sparked long liquidation of coffee futures. Forecaster Maxar Technologies said today that Brazil's coffee-growing areas will get moderate rainfall over the next week, boosting soil moisture that promotes cherry growth and increased coffee yields.

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