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Barchart
Rich Asplund

Coffee Prices Consolidate Above Recent Lows

Ice Brazil USDA arabica Conab Vietnam Marex Solutions Somar Meteorologia Vietnam General Statistics Office Volcafe

May arabica coffee (KCK25) Wednesday closed down -0.20 (-0.05%), and May ICE robusta coffee (RMK25) closed down -6 (-0.11%).

Coffee prices Wednesday posted modest losses as they consolidated above Tuesday's 2-month lows.  Coffee prices have been the defensive over the past week, with arabica falling to a 2-month nearest-futures low Tuesday and robusta dropping to a 2-1/4 month nearest-futures low.  Coffee prices have been undercut by reduced concern about dryness in Brazil.  Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 31.1 mm of rain in the week ended March 29, or 114% of the historical average.

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