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Rich Asplund

Arabica Coffee Posts New Record High on Brazil Crop Concerns

Brazil Ice USDA Conab Vietnam ICO Vietnam General Statistics Office Volcafe

March arabica coffee (KCH25) Monday closed up +24.70 (+6.11%), and March ICE robusta coffee (RMH25) closed up +110 (+1.98%).

Coffee prices Monday settled sharply higher, with arabica coffee posting a new all-time nearest-futures high.  Below-normal rain in Brazil heightened coffee crop concerns and boosted coffee prices after Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 53.9 mm of rain last week, or 85% of the historical average.  Brazil is the world's biggest arabica coffee growing country.

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