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Coffee Faces Selling Pressure
December coffee remains under pressure from Brazil’s weak real, while falling ICE stocks and shifting weather patterns shape supply outlooks.
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The pressure on the Brazilian offer and the advance of the certified stocks influenced the coffee negotiations in this session on Wednesday (28). At the New York Stock Exchange, the future contract with maturity in December declined 2.38%, ending the pregão quoted at US$ 2.86 per pound-weight. According to Barchart, the devaluation of the Brazilian real also contributes to the downward movement. On Monday, the currency fell about 9% after the ou…
·São Paulo, Brazil
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