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Barchart
Barchart
Rich Asplund

MYSTERIOUS: Coffee prices jump as the dollar sinks - You Need To See This

Ice Brazil USDA Conab Vietnam Marex Solutions United States Volcafe

May arabica coffee (KCK25) Friday closed up +14.85 (+4.33%), and May ICE robusta coffee (RMK25) closed up +162 (+3.28%).

Coffee prices Friday settled sharply higher as a selloff in the dollar index (DXY00) to a 3-year low fueled short covering in coffee futures.  Also, supply fears are supporting coffee prices.  Cecafe reported Wednesday that Brazil's March green coffee exports fell -26% y/y to 2.95 million bags.  Robusta coffee is also climbing on signs of tighter supplies after ICE-monitored robusta coffee inventories fell to a 6-week low Friday of 4,253 lots.

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