Arabica Coffee futures closed higher on Wednesday after a three day consecutive fall. The
most active contract for December delivery traded 23,934 lots, and reached a new low of
114.75, closing at 116.20 cents per pound. The Brazilian real continued its downfall, this time
reaching lows of 4.13 BRL due to continued uncertainty regarding Brazil’s ability to restructure
its economy and control its credit rating. On the weather front, MDA weather services
reported increasing rains in Sao Paulo and Southern Minas Gerais next week, aiding in further
flowering, however areas such as Northern Minas Gerais, Espirito Santo, and Bahia are
expected to have lower than average rainfall. Despite the fall of crude oil, the equity markets,
and the Brazilian real, coffee futures were able to finish with a 75 point gain.
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