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Barchart
Barchart
Rich Asplund

Coffee Prices Rebound on Brazil Weather Concerns

Ice Brazil Somar Meteorologia USDA Conab Vietnam Marex Solutions Vietnam General Statistics Office Volcafe

May arabica coffee (KCK25) today is up +5.50 (+1.45%), and May ICE robusta coffee (RMK25) is up +57 (+1.08%).

Coffee prices today recovered from 2-month lows and are moderately higher.  Short-covering emerged in coffee futures today due to weather concerns in Brazil after Somar Meteorologia forecasted limited rainfall in Brazil's coffee-growing regions over the next week to ten days.  Coffee prices added to their gains today after the Brazilian real (^USDBRL) rallied to a 1-week high against the dollar, discouraging export selling by Brazil's coffee producers.

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