MADRID – London-traded robusta coffee prices closed at a more than one-week low on Wednesday as a strong dollar, good weather and expectations of the arrival of the new Vietnamese crop put pressure on the bean, according to a report from Dow Jones Newswires.
The January contract closed down 2.7 percent at $2,042 per ton on Wednesday.
A strong dollar against most other currencies put pressure on dollar-denominated commodities.
Also, lighter rains in Vietnam should allow the harvest to move to ports faster.
These factors, combined with the arrival of rainfall in the key Brazilian robusta-producing region have also raised expectations for supply, Dow Jones added, in a report supplied to EFE.
Latin American Herald Tribune