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Barchart
Barchart
Rich Asplund

Coffee Prices Extend This Week's Rally on Global Supply Concerns

Ice Brazil Vietnam ICO the USDA FAS

March arabica coffee (KCH24) this morning is up +3.00 (+1.62%), and Jan ICE robusta coffee (RMF24) is up +46 (+1.67%).

Coffee prices this morning extended this week's rally, with arabica posting a 7-3/4 month high and robusta posting a 4-1/2 month high.  Dry weather in Brazil risks damaging coffee crops and has boosted coffee prices.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received only 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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