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Barchart
Barchart
Rich Asplund

Soaring Margins Spark Long Liquidation in Coffee Futures

Ice Brazil Arabica USDA Vietnam Cecafe International Coffee Organization

March arabica coffee (KCH25) today is down -22.40 (-7.04%), and January ICE robusta coffee (RMF25) is down -494 (-9.13%).

Coffee prices today have sold off sharply to 1-week lows.  Long liquidation pressures weighed on coffee prices today after J. Ganes Consulting said that keeping a large amount of capital tied into a position in coffee may no longer be justified after ICE raised its margins for holding positions in coffee futures last week.   Also, weakness in the Brazilian real (^USDBRL) is bearish for coffee, with the real down -1.8% today, just above last Friday's record low against the dollar.  The weaker real encourages export selling from Brazil's coffee producers.  

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