Coffee Hits One-Week Low on Strong Dollar

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

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