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Barchart
Rich Asplund

Coffee Prices Settle Lower as the Brazilian Real Weakens and ICE Inventories Climb

Ice Brazil Vietnam USDA Deficit the International Coffee Organization Volcafe

September arabica coffee (KCU24) on Thursday closed down -2.25 (-0.93%), and Sep ICE robusta coffee (RMU24) closed down -91 (-1.99%).

Coffee prices Thursday closed moderately lower, with robusta posting a 1-week low.  Weakness in the Brazilian real (^USDBRL) weighed on coffee prices as the real Thursday dropped to a 2-week low against the dollar.  The weaker real encourages export selling by Brazil's coffee producers.  Meanwhile, robusta is under pressure after ICE-monitored robusta coffee inventories rose to a 1-year high Wednesday of 6,119 lots, signaling increased supplies.

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