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Barchart
Barchart
Rich Asplund

Coffee Prices Rise on Technical Short Covering

Ice Brazil USDA ICO

December arabica coffee (KCZ26) is up +6.30 (+2.21%) today, and November ICE robusta coffee (RMX26) is up +31 (+0.88%).

Coffee prices recovered from early losses today and moved higher on technical buying. Fund short covering emerged today following a 3-week long selloff that pushed coffee prices into extremely oversold territory.

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