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Barchart
Barchart
Rich Asplund

Below-Average Rain in Brazil Supports Coffee Prices

September arabica coffee (KCU25) today is up +3.80 (+1.34%), and September ICE robusta coffee (RMU25) is up +73 (+2.19%).

Coffee prices are climbing today as below-average rainfall in Brazil has sparked some short-covering in coffee futures.  Somar Meteorologia reported today that Brazil's largest arabica coffee-growing area, Minas Gerais, received 2.7 mm of rain during the week ended August 2, only 31% of the historical average.

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