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Barchart
Barchart
Rich Asplund

Arabica Coffee Gives Up Gains as the Brazilian Real Slumps

December arabica coffee (KCZ24) Friday closed down -3.55 (-1.43%).  November ICE robusta coffee (RMX24) closed up +47 (+0.196).

Coffee prices Friday settled mixed, with Nov robusta posting a contract high and nearest-futures (U24) robusta posting a record high.  Coffee has support from excessive dryness in Brazil that may cause premature flowering of coffee trees and reduce yields for Brazil's 2024/25 coffee crop.  According to the natural disaster monitoring center Cemaden, Brazil has been facing the driest weather since 1981, and there is no rain in the forecast until mid-September when coffee trees usually flower.

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