Sep arabica coffee (KCU23) on Friday closed down -2.10 (-1.31%), and Sep ICE robusta coffee (RMU23) closed up +6 (+0.23%).
Coffee prices Friday settled mixed, with arabica falling to a 3-week low. Dry conditions in Brazil, the world's largest arabica coffee producer, have accelerated the country's coffee harvest, boosting supplies and undercutting prices. Cooxupe, Brazil's coffee export cooperative, reported Wednesday that Brazil's coffee harvest was 74.9% completed as of Aug 4, ahead of the 71.7% 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.
