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Rich Asplund

Arabica Coffee Prices Settle Higher on Below-Normal Rain in Brazil

Ice Brazil Conab the USDA FAS Vietnam Rabobank United Kingdom United States Volcafe

July arabica coffee (KCN25) Monday closed up +2.85 (+0.74%), and July ICE robusta coffee (RMN25) did not trade with markets in the UK closed for the May Day holiday.

Arabica coffee on Monday recovered from a 1-1/2 week low and posted moderate gains after below-normal rainfall in Brazil sparked short covering in coffee futures. Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais, received 1.5 mm of rain in the week ended April 26, or 21% of the historical average.

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