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Barchart
Barchart
Rich Asplund

Coffee Prices Sink on Technical Selling

Ice Brazil NOV Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) today is down -6.10 (-3.63%), and Nov ICE robusta coffee (RMX23) is down -74 (-2.84%).

Coffee prices this morning are sharply lower on long liquidation pressure after the sharp rally seen in the past two weeks.  Coffee prices today gave up an early advance and fell sharply when arabica prices failed to stay above their 200-day moving average, which sparked fund liquidation in coffee futures.

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