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Rich Asplund

Coffee Prices Rally on Brazilian Rain Conditions

Ice Brazil Conab USDA Vietnam the USDA FAS Vietnam General Statistics Office Volcafe

May arabica coffee (KCK25) today is up +8.35 (+2.16%), and May ICE robusta coffee (RMK25) is up +120 (+2.21%).

Coffee prices today added to Monday's gains, with arabica posting a 1-1/2 week high and robusta posting a 1-week high.   Below-normal rain in Brazil may reduce coffee crop yields and is supporting prices.  Somar Meteorologia reported last Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 11.4 mm the week ended February 22, or 24% of the historical average.  Monday's rain report was delayed by the Brazilian Carnival holiday.  Brazil is the world's biggest arabica coffee growing country.

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