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Barchart
Rich Asplund

Coffee Prices Slump on Forecasts for Rain in Brazil

Ice Brazil the USDA FAS Vietnam International Coffee Organization

May arabica coffee (KCK24) this morning is down -7.20 (-3.75%), and May ICE robusta coffee (RMK24) is down -103 (-3.05%).

Coffee prices this morning are sharply lower, based on improved prospects for rain in Brazil, which eased dryness concerns and spurred long liquidation in coffee futures.   Forecaster Maxar Technologies said today that moderate rain is expected in Brazil's coffee-growing regions over the next five days.  Losses in coffee prices accelerated after the Brazilian real (^USDBRL) fell to a 1-week low against the dollar, which encourages export selling from Brazil's coffee producers.  

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