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Barchart
Barchart
Rich Asplund

Brazil's Worst Drought in 40 Years Boosts Coffee Prices

Ice Brazil NOV Drought Vietnam the USDA FAS ICO Volcafe

December arabica coffee (KCZ24) today is up +1.60 (+0.65%).  November ICE robusta coffee (RMX24) is up +201 (+4.10%).

Coffee prices today are moderately higher, with Nov robusta posting a contract high and nearest-futures (U24) robusta posting a record high.  Excessive dryness in Brazil may cause premature flowering of coffee trees and reduce yields for Brazil's 2024/25 coffee crop.  According to the natural disaster monitoring center Cemaden, Brazil has been facing the driest weather since 1981 and there is no rain in the forecast until mid-September, when coffee trees usually flower.

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