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Barchart
Barchart
Rich Asplund

Coffee Closes Moderately Higher on Excessive Dryness in Brazil

Brazil Ice Vietnam USDA International Coffee Organization Vietnam General Statistics Office

May arabica coffee (KCK24) on Monday closed up +3.60 (+1.96%), and May ICE robusta coffee (RMK24) closed up +46 (+1.46%).

Coffee prices on Monday posted moderate gains, with arabica climbing to a 2-week high and robusta rising to a 3-week high.  Below-average rainfall in Brazil's coffee-growing regions is boosting coffee prices after Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 29.4 mm of rainfall in the past week, or 50% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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