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Barchart
Barchart
Rich Asplund

Mild Short Covering Lifts Coffee Prices after Monday's Plunge

Ice Brazil NOV NY the USDA FAS Vietnam Cecafe ICO the International Coffee Organization USDA

December arabica coffee (KCZ24) today is up +2.35 (+0.96%), and November ICE robusta coffee (RMX24) is up +1 (+0.02%).

Coffee prices today are moderately higher on some mild short covering following Monday's plunge when NY arabica coffee fell by -4.93% and ICE robusta coffee fell by -3.93%.  Gains in coffee were limited as the Brazilin real (^USDBRL) today dropped to a 2-week low against the dollar, encouraging export selling by Brazil's coffee producers.

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