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Rich Asplund

Coffee Prices Settle Higher as Brazilian Real Strength Sparks Short Covering

Ice Brazil USDA United States Vietnam Safras Mercado Volcafe

July arabica coffee (KCN25) Wednesday closed up +5.30 (+1.55%), and July ICE robusta coffee (RMN25) closed up +37 (+0.83%).

Coffee prices on Wednesday settled higher as a rally in the Brazilian real (^USDBRL) sparked short covering in coffee futures. The Brazilian real rose to a 1-1/2 week high against the dollar Wednesday, discouraging export selling from Brazil's coffee producers.

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