December arabica coffee (KCZ26) is down -4.20 (-1.45%) today, and November ICE robusta coffee (RMX26) is down -51 (-1.44%).
Coffee prices are sliding today amid beneficial growing conditions in Brazil and Vietnam. Above-normal rainfall in Brazil may benefit flowering for next year’s coffee harvest, a bearish factor for prices. On Monday, Somar Meteorologia reported that 59.4 mm of rain, or 1,212% of the historical average, fell in the week ended September 13 in Brazil's Minas Gerais, the country's main arabica-coffee growing region. In Vietnam, forecaster Viasala said abundant rains have improved soil moisture levels and should aid cherry development in Vietnam’s Central Highlands, the country’s largest coffee-producing region.
