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Barchart
Barchart
Rich Asplund

Arabica Coffee Falls on Forecasts for Rain in Brazil

Brazil Ice Vietnam Cecafe ICO USDA FAS

Dec arabica coffee (KCZ23) this morning is down -4.60 (-2.54%), and Jan ICE robusta coffee (RMF24) is up +18 (+0.71%).

Coffee prices this morning are mixed, with robusta posting a 1-3/4 month high.  Arabica coffee fell back from a 4-3/4 month high today and is sharply lower as long liquidation pressures emerged on forecasts for rain in Brazil early next week.  Robusta has carryover support from last Friday when Vietnam's agriculture department projected Vietnam's coffee production in the 2023/24 crop year could drop by -10% to 1.656 MMT, the smallest crop in four years, due to drought.  

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