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Barchart
Barchart
Rich Asplund

Coffee Prices Firm on Reduced Rainfall Chances in Brazil

Ice Brazil Climatempo the USDA FAS Vietnam Cecafe ICO International Coffee Organization USDA

December arabica coffee (KCZ24) today is up +1.60 (+0.63%), and November ICE robusta coffee (RMX24) is up +5 (+0.11%).

Coffee prices today are moderately higher after updated weather forecasts reduced the chances of rain in Brazil.  Short covering emerged in coffee futures today after Meteorologist Climatempo said showers in Minas Gerais are now expected to be scattered over the next week, down from a previous forecast of widespread showers.  A weaker dollar (DXY00) today has also boosted short covering in coffee.  

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