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Rich Asplund

HISTORICAL FACTS: Coffee settles higher on brazilian real strength | History Defined

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Sep arabica coffee (KCU23) on Wednesday closed up +1.30 (+0.80%), and Sep ICE robusta coffee (RMU23) closed up +11 (+0.46%).

Coffee prices Wednesday shook off early losses and closed moderately higher. Strength in the Brazilian real sparked short covering in coffee futures. The real (^USDBRL) Wednesday rose +0.41% and is just below Tuesday's 13-1/2 month high. A stronger real discourages export selling from Brazil's coffee producers.

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