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Barchart
Barchart
Rich Asplund

Coffee Prices Sharply Higher on Brazil Crop Concerns and Tighter US Supplies

Ice Brazil United States arabica Cecafe Vietnam FAs

December arabica coffee (KCZ25) on Thursday closed up +11.55 (+3.27%), and September ICE robusta coffee (RMU25) closed up +112 (+2.41%).

Coffee prices on Thursday extended their sharp two-week-long rally, with arabica coffee posting a 3-month high and robusta posting a 2.75-month high.  Weather concerns in Brazil have sparked fund buying of coffee futures.  On Monday, Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended August 16.  Reports of damage to some of Brazil's coffee crop from last week's frost are also boosting prices.

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