Coffee prices hit 2-1/2 week lows as supply prospects improve
Bullish strength: 18/100
- ICE-certified coffee stock drawdowns may be moderating, with just over 36,000 bags awaiting grading.
Bearish strength: 82/100
- Arabica futures fell 3.1% to $2.8470 per pound, reaching a 2-1/2-week low.
- A weak Brazilian real encourages producers and exporters to sell dollar-priced coffee futures.
- Favourable Brazilian weather and above-normal moisture forecasts support arabica supply prospects.
- Robusta futures fell 0.8% as Vietnam's harvest began and exchange stocks continued rising.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.