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Barchart
Barchart
Rich Asplund

Strength in the Brazilian Real Sparks Short Covering in Coffee

Brazil Ice USDA Vietnam the International Coffee Organization Volcafe

March arabica coffee (KCH25) Tuesday closed up +1.90 (+0.60%), and March ICE robusta coffee (RMH25) closed up +35 (+0.70%).

Coffee prices on Tuesday settled moderately higher.  Tuesday's rally in the Brazilian real (^USDBRL) to a 2-week high against the dollar prompted short covering in coffee futures.  The stronger real discourages export selling by Brazil's coffee producers.

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