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Rich Asplund

Arabica Coffee Closes Moderately Lower on Brazil Coffee Harvest Pressures

Brazil arabica Ice Somar Meteorologia the USDA FAS USDA Robusta Vietnam the International Coffee Organization the US Climate Prediction Center

July arabica coffee (KCN23) on Tuesday closed down -2.80 (-1.51%), and July ICE robusta coffee (RMN23) closed up +7 (+0.26%).

Coffee prices Tuesday settled mixed. Arabica coffee retreated Tuesday on favorable weather conditions in Brazil, which should speed up the pace of the country's coffee harvest. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 0.2 mm of rain in the week ended June 11, or 2% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.

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