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Barchart
Rich Asplund

Arabica Coffee Higher on Concern Heavy Rain Will Slow the Brazil Harvest

Brazil Ice Somar Meteorologia Vietnam Deficit Cecafe Colombia El Nino Rabobank USDA FAS

Sep arabica coffee (KCU23) this morning is up +1.40 (+0.90%), and Sep ICE robusta coffee (RMU23) is down -18 (-0.71%).

Coffee prices this morning are mixed.   Concern that recent heavy rain in Brazil will slow the coffee harvest supports arabica prices.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 5.1 mm of rain in the previous week, or 850% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Robusta is under pressure 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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