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Rich Asplund

Coffee Prices Erase Early Gains on Forecasts for Dry Weather in Brazil

Ice Brazil Vietnam El Niño FAs

September arabica coffee (KCU26) on Tuesday closed down -2.45 (-0.75%), and September ICE robusta coffee (RMU26) closed down -66 (-1.70%).

Coffee prices gave up an early advance on Tuesday and settled lower after updated weather forecasts took out the rain chances this week in Brazil’s coffee-growing regions, potentially speeding up the pace of the coffee harvest. Rising inventories are also weighing on robusta coffee after ICE robusta inventories climbed to a 3.75-month high on Monday.

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