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Barchart
Barchart
Rich Asplund

Arabica Coffee Prices Fall Back on Forecasts for Rain in Brazil

Dec arabica coffee (KCZ23) this morning is down -4.10 (-2.65%), and Nov ICE robusta coffee (RMX23) is up +2 (+0.08%).

Coffee prices this morning are mixed, with arabica falling to a 1-week low.  Forecasts for rain in Brazil have eased drought concerns and sparked long liquidation in coffee futures.  Rural Clima Meteorologia said Brazil should see some rain volume through the month's end.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 2.5 mm of rain in the past week, or 20% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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