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Barchart
Rich Asplund

Strength in the Brazilian Real Sparks Short Covering in Arabica Coffee

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Sep arabica coffee (KCU23) this morning is up +0.40 (+0.27%), and Sep ICE robusta coffee (RMU23) is down -25 (-0.97%).

Coffee prices this morning are mixed.  Arabica recovered from a 7-1/4 month low and posted modest gains on strength in the Brazilian real.  Short covering emerged in arabica coffee today after the real (^USDBRL) rebounded from a 2-1/2 month low against the dollar and moved higher.  The stronger real discourages export selling from Brazil's coffee producers.  

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