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Barchart
Barchart
Rich Asplund

Technical Buying Lifts Coffee Prices

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December arabica coffee (KCZ26) is up +4.50 (+1.65%) today, and November ICE robusta coffee (RMX26) is up +43 (+1.32%).

Coffee prices recovered from 3-month lows today and moved sharply higher. Technical buying is lifting coffee prices today as the sharp sell-off over the past three weeks has pushed prices into deeply oversold territory, prompting short covering by funds.

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