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Barchart
Barchart
Rich Asplund

Coffee Prices Post Moderate Gains on Forecasts for Hot and Dry Weather in Brazil

Ice Brazil Climatempo USDA Vietnam Cecafe the International Coffee Organization

December arabica coffee (KCZ24) Tuesday closed up +5.95 (+2.30%), and November ICE robusta coffee (RMX24) closed up +57 (+1.09%).

Coffee prices Tuesday recovered from early losses and settled moderately higher, just below Monday's major highs.  Coffee rallied Tuesday after updated weather forecasts from Climatempo said most of this week will continue to be hot and dry in Brazil's coffee-producing areas.  On Monday, Dec arabica and Nov robusta posted contract highs, while nearest-futures (U24) robusta posted a new all-time high.  Coffee prices have rallied sharply over the past week as adverse global weather events threaten coffee production.  

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