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Barchart
Barchart
Rich Asplund

Coffee Prices Sharply Higher on Concern About Global Coffee Output

Ice Vietnam Brazil ICO the USDA FAS

May arabica coffee (KCK24) this morning is up +6.30 (+2.94), and May ICE robusta coffee (RMK24) is up +86 (+2.28%).

Coffee prices this morning are sharply higher, with arabica posting a 6-month high and robusta posting an all-time high.  Coffee crop concerns in Brazil and Vietnam are underpinning prices.  Arabica coffee has support on weather concerns in Brazil as Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 2.5 mm of rainfall in the past week, or 12% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Robusta has support on fears that excessive dryness in Vietnam will limit the country's robusta coffee production.

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