December arabica coffee (KCZ25) on Thursday closed down -0.80 (-0.21%), and November ICE robusta coffee (RMX25) closed up +44 (+0.98%).
Coffee prices on Thursday settled mixed, with robusta coffee climbing to a 1-week high and arabica falling back further from Tuesday's 4-month high. The lack of rain in Brazil's coffee-growing regions ahead of the critical flowering period for coffee trees is underpinning coffee prices. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended September 6. However, arabica coffee gave up early gains and turned lower Thursday after Climatempo said rainfall in Brazil's Minas Gerais region is expected to intensify next week.
