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Barchart
Barchart
Rich Asplund

Dollar Strength Prompts Long Liquidation in Coffee Futures

Ice Brazil Vietnam ICO USDA FAS

Dec arabica coffee (KCZ23) this morning is down -3.40 (-1.96%), and Jan ICE robusta coffee (RMF24) is down -65 (-2.68%).

Coffee prices this morning are moderately lower.  A stronger dollar today has sparked long liquidation in coffee futures.  Also, abundant rain in Brazil is supportive of coffee yields and bearish for coffee prices.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 59.5 mm of rain in the past week, or 135% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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