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Barchart
Rich Asplund

Coffee Prices Fall as Dry Conditions Ease in Brazil

Ice Brazil Vietnam El Nino ICO the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) on Wednesday closed down -2.40 (-1.61%), and Nov ICE robusta coffee (RMX23) closed down -30 (-1.24%).

Coffee prices on Wednesday settled moderately lower, with robusta dropping to a 5-3/4 month low.  Improved weather conditions in Brazil have sparked fund selling of coffee futures.  Forecasts for rain in Brazil's coffee-growing regions have eased dryness concerns and are bearish for coffee prices.  Forecaster Maxar Technologies said Brazil's coffee growing areas will see moderate to heavy rain in the next ten days, which should boost soil moisture for cherry growth, trigger widespread flowering of coffee plants, and boost the yields for Brazil's 2024/25 coffee crop.

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