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Rich Asplund

Coffee Prices Pressured by Rain in Brazil

Ice Brazil arabica Vietnam USDA

July arabica coffee (KCN25) Tuesday closed down  -8.10 (-2.35%), and July ICE robusta coffee (RMN25) closed down -42 (-0.96%).

Coffee prices on Tuesday extended Monday's losses, with arabica coffee falling to a 2-1/4 month low.   Recent rainfall in Brazil has eased dryness concerns and is weighing on coffee prices.  On Monday, Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received 10.6 mm of rain during the week ended June 14, 131% of the historical average for this time of year.

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