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Barchart
Barchart
Rich Asplund

Oversold Conditions Spur Technical Short Covering in Coffee Futures

Ice Brazil FAs Vietnam

March arabica coffee (KCH26) on Wednesday closed up +2.95 (+1.04%), and March ICE robusta coffee (RMH26) closed up +53 (+1.44%).

Coffee prices recovered from early losses on Wednesday and settled higher, with arabica rebounding from a 7.25-month low.   Technical short-covering emerged in coffee futures on Wednesday as the recent selloff had pushed prices into deeply oversold territory.

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