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Barchart
Barchart
Rich Asplund

Coffee Prices Climb on Global Supply Concerns

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March arabica coffee (KCH24) this morning is up +0.90 (+0.49%), and Jan ICE robusta coffee (RMF24) is up +82 (+3.09%).

Coffee prices this morning are moderately higher, with arabica posting a 1-week high and robusta climbing to a 1-month high.  Dry weather in Brazil risks damaging coffee crops and is bullish for prices.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 36.5 mm of rainfall in the past week, or 53% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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