Dec arabica coffee (KCZ23) this morning is down -0.20 (-0.13%), and Sep ICE robusta coffee (RMU23) is down -43 (-1.64%).
Coffee prices this morning are moving lower as strength in the dollar has sparked long liquidation in coffee futures. Coffee prices have been under pressure over the past three weeks, with arabica falling to a 7-1/2 month low last Friday, as favorable weather in Brazil has accelerated the country's coffee harvest, boosting supplies and undercutting prices. Cooxupe, Brazil's coffee export cooperative, reported today that Brazil's coffee harvest was 87.3% completed as of August 18, ahead of the 85.5% completed at the same time last year.
