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Barchart
Barchart
Rich Asplund

Coffee Prices Gain on Excessive Rain in Brazil

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

Dec arabica coffee (KCZ23) this morning is up +0.50 (+0.33%), and Nov ICE robusta coffee (RMX23) is up +2 (+0.08%).

Coffee prices this morning are slightly higher on concern that excessive rain in Brazil's coffee-growing areas will delay the completion of its coffee harvest.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 22.8 mm of rain in the past week, or 308% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  

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