Brazilian Coffee Farmers Losing Game of Chicken

Brazilian Coffee Farmers Losing Game of Chicken 
THE WALL STREET JOURNAL (USA)
 
Brazilian coffee farmers this season have been holding out on selling their beans, waiting for higher prices.

They seem to be losing that game of chicken.

Front-month arabica-coffee futures fell to a more than one-month low in intraday trade to $1.6410 a pound, down more than 2%.

Growers in the source of one-third of the world’s coffee have been well-financed from government loans that allowed them to store their crop.

Brazil’s Green Coffee Exporters’ Council, known as CeCafe, reported yesterday that exports of green or unroasted coffee in September were down 26% on the year, and that’s with what’s expected to be a record crop.

It looks as if the Brazilians will have to spill the beans.