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Barchart
Barchart
Rich Asplund

Arabica Coffee Gains on Heavy Rain in Brazil

Brazil Ice Vietnam Europe International Coffee Organization Rabobank USDA

May arabica coffee (KCK24) this morning is up +1.70 (+0.90%), and May ICE robusta coffee (RMK24) is not trading today, with markets in Europe closed for the Easter Monday holiday.

Coffee prices this morning are moderately higher after recent heavy rain in Brazil's coffee-growing regions, which may have damaged coffee crops.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 75.4 mm of rainfall in the past week, or 335% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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