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Barchart
Barchart
Rich Asplund

Coffee Rallies on Brazilian Real Strength and Robusta Supply Concerns

Brazil Ice Vietnam the USDA FAS International Coffee Organization Vietnam General Statistics Office

May arabica coffee (KCK24) this morning is up +2.90 (+1.58%), and May ICE robusta coffee (RMK24) is up +121 (+3.81%).

Coffee prices this morning are climbing, with robusta coffee sharply higher.  May robusta posted a contract high, and nearest-futures (H24) robusta jumped to a 6-week high.  Strength in the Brazilian real (^USDBRL) supports coffee prices as the real rose to a 1-week high today against the dollar.  The stronger real discourages export selling from Brazil's coffee producers.  Robusta coffee also has carryover support from last Thursday when Vietnam's General Statistics Office reported that Vietnam's Feb coffee exports fell -20 % y/y to 160,000 MT.  

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