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Barchart
Barchart
Rich Asplund

Overbought Conditions Spur Technical Selling in Coffee Futures

Ice Brazil Vietnam El Niño FAs

September arabica coffee (KCU26) today is -8.90 (-2.80%), and September ICE robusta coffee (RMU26) is down -153 (-3.95%).

Coffee prices are falling sharply for a second session today, giving back nearly all of Monday's parabolic rally. The surge in coffee prices to Monday's significant highs pushed prices to heavily overbought levels, sparking technical selling that prompted profit-taking. Also, Intercontinental Exchange's action this week to raise margin requirements for coffee futures trading has fueled long liquidation pressures, further weighing on prices.

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