July arabica coffee (KCN24) today is up +0.80 (+0.39%), and July ICE robusta coffee (RMN24) is up +6 (+0.17%).
Coffee prices today climbed to 2-week highs and are moderately higher. Insufficient rainfall in Brazil and Vietnam may curb global coffee production and is bullish for prices. Somar Meteorologia reported today that Brazil's Minas Gerais region received no rainfall or 0% of the historical average in the past week, the fourth consecutive week the area has received no rainfall. Minas Gerais accounts for about 30% of Brazil's arabica crop. Last Monday, Vietnam's National Weather Agency said rainfall in Vietnam's Central Highland, the main coffee-growing region, totaled 195.6 mm in the ten days from May 1, 41% below the long-term average.
