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Barchart
Rich Asplund

EXPLAINED: Dollar strength weighs on coffee prices yqubml49 | Vintage Vibes

Ice Brazil FAs Vietnam

July arabica coffee (KCN26) on Thursday closed down -2.75 (-0.99%), and July ICE robusta coffee (RMN26) closed up +5 (+0.14%).

Coffee prices on Thursday gave up early gains and settled mixed as a rally in the dollar index ($DXY) to a 13-month high sparked long liquidation in coffee futures. Coffee prices have rallied sharply over the past week, hitting 5-week highs on Thursday, amid concerns that persistent rain in Brazil will delay the coffee harvest. Forecaster Vaisala said moderate to heavy rainfall is forecast across Brazil’s coffee-growing regions this week. Coffee prices also fell back from their best level after meteorologist Climatempo said that Brazil’s key coffee-growing regions are expected to see mostly dry weather next week.

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