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Barchart
Rich Asplund

SHOCKING: Coffee prices settle lower as the brazilian real weakens and ice inventories climb - What They Never Told You

Ice Brazil Vietnam USDA Deficit International Coffee Organization Volcafe

September arabica coffee (KCU24) on Thursday closed down -2.25 (-0.93%), and Sep ICE robusta coffee (RMU24) closed down -91 (-1.99%).

Coffee prices Thursday closed moderately lower, with robusta posting a 1-week low.  Weakness in the Brazilian real (^USDBRL) weighed on coffee prices as the real Thursday dropped to a 2-week low against the dollar.  The weaker real encourages export selling by Brazil's coffee producers.  Meanwhile, robusta is under pressure after ICE-monitored robusta coffee inventories rose to a 1-year high Wednesday of 6,119 lots, signaling increased supplies.

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