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Rich Asplund

Arabica Coffee Posts Moderate Losses as Rain in Brazil Eases Drought Concerns

Brazil Ice Drought Vietnam USDA ICO Volcafe

December arabica coffee (KCZ24) Tuesday closed down -1.25 (-0.51%).  November ICE robusta coffee (RMX24) closed up +10 (+0.21%).

Coffee prices on Tuesday settled mixed, with arabica falling to a 1-week low.  Recent rain in Brazil, the world's largest producer of arabica coffee, has partially alleviated drought concerns and weighed on arabica coffee prices.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 13.8 mm of rain or 160% of the historical average last week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  However, robusta coffee rose on Tuesday due to the concern that a drought in Vietnam will curb global robusta supplies.  

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