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Barchart
Rich Asplund

Coffee Prices Settle Lower on Brazil Rains and Reduced EU Regulation Concerns

Ice Brazil European Union the USDA FAS Vietnam Cecafe Deforestation ICO International Coffee Organization USDA

December arabica coffee (KCZ24) Monday closed down -1.05 (-0.37%), and January ICE robusta coffee (RMF25) closed down -38 (-0.80%).

Coffee prices Monday gave up early gains and settled moderately lower.  Arabica fell back from a 13-year nearest-futures high, and robusta retreated from a 1-month high Monday as rain in Brazil eased dryness concerns and sparked long liquidation in coffee futures.  Somar Meteorologia reported Monday that rainfall in Brazil's biggest arabica coffee growing area of Minas Gerais received 60.9 mm of rain last week, or 127% of the historical average.  Minas Gerais is Brazil's largest arabica coffee-producing area.

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