December arabica coffee (KCZ26) is down -8.25 (-2.81%), and November ICE robusta coffee (RMF27) is down -3 (-0.09%).
Coffee prices continued to fall today on concerns that Brazilian exporters will increase sales after Monday’s -9% plunge in the Brazilian real on President Luiz Inacio Lula da Silva’s surprise victory in the weekend Brazilian presidential election. The real has since recovered some of its losses but is still down -8% on the week. A weaker Brazilian real encourages exporters to sell more coffee, as they can get a higher dollar price for their sales.