
March arabica coffee (KCH26) today is up +13.30 (+3.70%). March ICE robusta coffee (RMH26) is up +63 (+1.61%).
Coffee prices are sharply higher today, with arabica posting a 4-week high. Below-average rainfall in Brazil, the world's largest arabica producer, is supporting arabica coffee. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 47.9 mm of rain during the week ended January 2, or 67% of the historical average. Also, strength in the Brazilian real is supportive for arabica coffee. The real (^USDBRL) rallied to a 1-month high against the dollar today, discouraging export sales from Brazil's coffee producers.