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Barchart
Barchart
Rich Asplund

Coffee Prices Sharply Higher as the Brazilian Real Surges

July arabica coffee (KCN25) Thursday closed up +13.60 (+3.93%), and July ICE robusta coffee (RMN25) closed up +121 (+2.71%).

Coffee prices rallied sharply on Thursday to 1-week highs.   Thursday's rally in the Brazilian real (^USDBRL) to a 7-1/2 month high against the dollar sparked fund short covering in coffee futures.  The stronger Brazilian real discourages export selling from Brazil's coffee producers.

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