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Barchart
Barchart
Rich Asplund

Coffee Prices Climb on Dry Conditions in Brazil and Low Coffee Stocks

Brazil Somar Meteorologia Vietnam Minas Gerais ICO

March arabica coffee (KCH24) this morning is up +5.80 (+3.04%), and Jan ICE robusta coffee (RMF24) is up +59 (+2.09%).

Coffee prices this morning are sharply higher as ongoing dry weather in Brazil risks damaging coffee crops.  On Monday, Somar Meteorologia reported that Brazil's Minas Gerais region received only 35.1 mm of rainfall in the past week, or 65% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  

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