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Barchart
Rich Asplund

Coffee Prices Finish Sharply Higher on Excessive Dryness in Brazil

Ice Brazil Vietnam Somar Meteorologia the USDA FAS ICO the International Coffee Organization Volcafe

September arabica coffee (KCU24) on Monday closed up +11.25 (+5.00%), and July ICE robusta coffee (RMN24) closed up +155 (+3.61%).

Coffee prices Monday rallied sharply to 2-week highs.  Coffee prices surged Monday on concern that drier-than-normal conditions will adversely affect Brazil's coffee crops.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rain for the third week last week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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