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Barchart
Barchart
Rich Asplund

Coffee Prices Settle Higher on Fund Short Covering

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December arabica coffee (KCZ26) closed up +3.60 (+1.32%) on Wednesday, and November ICE robusta coffee (RMX26) closed up +57 (+1.75%).

Coffee prices recovered from 3-month lows on Wednesday and settled sharply higher. Technical buying lifted coffee prices on Wednesday as the sharp sell-off over the past three weeks has pushed prices into deeply oversold territory, prompting short covering by funds.

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