December arabica coffee (KCZ26) is down -11.55 (-3.73%) today, and November ICE robusta coffee (RMX26) is down -59 (-1.70%).
Coffee prices extended their week-long slide today, with arabica dropping to a 5-week low and robusta sliding to a 2.75-month low. Coffee prices have sold off sharply over the past week on the outlook for Brazil’s coffee harvest to add more supply to the market. Most warehouses in Brazil are no longer accepting new coffee supplies as space fills up, suggesting farmers holding back sales in hopes of higher prices will have to increase coffee sales as storage space dwindles.
