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Barchart
Rich Asplund

Arabica Coffee Prices Slip on Brazil Harvest Pressures

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Sep arabica coffee (KCU23) this morning is down -1.70 (-1.04%), and Sep ICE robusta coffee (RMU23) is up +31 (+1.17%).

Coffee prices this morning are mixed.  Arabica is under pressure as dry conditions in Brazil have accelerated the country's coffee harvest.  Cooxupe, Brazil's coffee export cooperative, reported Wednesday that Brazil's coffee harvest was 58.8% completed as of July 21, ahead of the 52.6% completed at the same time last year.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rain last week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  

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