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Barchart
Barchart
Rich Asplund

Arabica Coffee Soars on Dryness in Brazil

Dec arabica coffee (KCZ23) this morning is up +5.65 (+3.31%), and Jan ICE robusta coffee (RMF24) is down -17 (-0.67%).

Coffee prices this morning are mixed.  Arabica coffee this morning is sharply higher after the weekend rain forecast for Brazil failed to materialize.  Below-normal rain in Brazil could curb coffee yields and is supportive of prices.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 5.9 mm of rain in the past week, or 12% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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