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Barchart
Rich Asplund

Arabica Coffee Gains as Rain May Slow Brazil's Harvest

Brazil Ice Somar Meteorologia Minas Gerais Deficit Vietnam Cecafe Colombia El Nino Rabobank

Sep arabica coffee (KCU23) this morning is up +1.70 (+1.09%), and Sep ICE robusta coffee (RMU23) is down -66 (-2.53%).

Coffee prices this morning are mixed.  Arabica is climbing today as recent heavy rain in Brazil's Minas Gerais region may slow the country’s coffee harvest.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 5.1 mm of rain during the previous week, or 850% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Robusta is under pressure today on negative carryover from last Thursday when Cecafe reported Brazil's June robusta exports rose +60% y/y to 230,653 bags.

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