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Rich Asplund

Coffee Prices Erase Early Losses on Forecasts for Limited Rain in Brazil

Ice Brazil Vietnam International Coffee Organization USDA

July arabica coffee (KCN24) on Wednesday closed up +0.90 (+0.46%), and July ICE robusta coffee (RMN24) closed up +36 (+1.07%).

Coffee prices recovered from early losses on Wednesday and posted moderate gains.  Forecasts for limited rainfall in Brazil until late next week sparked some short covering in coffee futures.  Coffee prices initially moved lower Wednesday on a rebound in ICE coffee inventories after ICE-monitored arabica coffee inventories on Tuesday rose to a 1-year high.  

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