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Barchart
Barchart
Rich Asplund

Coffee Prices Settle Higher on Supply Concerns

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

May arabica coffee (KCK25) Tuesday closed up +9.30 (+2.45%), and May ICE robusta coffee (RMK25) closed up +103 (+1.95%).

Coffee prices on Tuesday recovered from 2-month lows and closed higher.  Short-covering emerged in coffee futures Tuesday 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 Tuesday after the Brazilian real (^USDBRL) rallied to a 1-1/2 week high against the dollar, discouraging export selling by Brazil's coffee producers.

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