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Barchart
Barchart
Rich Asplund

Coffee Prices Finish Sharply Higher on Concern About Global Coffee Production

Ice Brazil Vietnam USDA Cecafe ICO the USDA FAS

December arabica coffee (KCZ24) Friday closed up +10.05 (+4.03%), and November ICE robusta coffee (RMX24) closed up +190 (+3.74%).

Coffee prices Friday rallied sharply, with Dec arabica and Nov robusta posting contract highs, while nearest-futures (U24) robusta soared to a record high.  Coffee prices rallied on adverse global weather events that could curb coffee production.  Meteorologist Climatempo said Friday that temperatures will be well above normal in Brazil's coffee-producing areas this weekend, which could damage coffee trees in their critical flowering period and reduce coffee yields.

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