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Barchart
Rich Asplund

Arabica Coffee Prices Slide on Beneficial Rain in Brazil

Ice Brazil NOV Somar Meteorologia Drought Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) this morning is down -0.80 (-0.52%), and Nov ICE robusta coffee (RMX23) is up +6 (+0.25%).

Coffee prices this morning are mixed.  Beneficial rain in Brazil has eased drought concerns and is bearish for arabica coffee prices.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 38.2 mm of rain in the past week, or 129% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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