December arabica coffee (KCZ24) Wednesday closed up +1.50 (+0.60%), and January ICE robusta coffee (RMF25) closed up +55 (+1.25%).
Coffee prices Wednesday rebounded from early losses and settled moderately higher. Concern that below-normal rain in Brazil will lead to a smaller coffee crop supported coffee prices. Somar Meteorologia on Monday reported that rainfall in Brazil's biggest arabica coffee growing area of Minas Gerais received 25.1 mm of rain last week, or only 74% of the historical average. Robusta coffee also has support on concern that heavy rain from tropical storm Trami might delay Vietnam's coffee harvest, which runs from October to April.
