Arabica Coffee taps 7 Week top

Arabica coffee futures on Wednesday settled up 1.8% for 6th straight up day.It is highest finish in seven weeks.

The gains were attributed to growing Concerns over exports. as analysts forecasting lower shipments from top-grower Brazil and the Colombian growers federation calling for a 30 percent drop in its fourth-quarter 2017 harvest.

Monthly data from the International Coffee Organization expected to show a further decline in exports.

Also read  Robusta and Arabica futures down under pressure

Vietnam’s coffee exports have also fallen this year.

January robusta coffee settled up 1.3 percent moving above Wednesday’s 17-month low .

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