Coffee Pulls Back from Six Month High on Wetter Outlook in Vietnam and Brazil

Arabica Coffee prices have been in a steady climb, pulling back slightly from an over six-month high of $2.4295 on August 25th. Forecasts for rain in Brazilian coffee growing areas in the next 10 days reduced concerns that La Nina will not allow sufficient moisture to sustain the development of coffee buds and cherries after some early flowering. Weakness in the Brazilian real Tuesday also weighed on Arabica. ICE December Arabica coffee futures on Tuesday closed down -1.40 (-0.59%) around … Continue reading “Coffee Pulls Back from Six Month High on Wetter Outlook in Vietnam and Brazil”