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Rich Asplund

Coffee Prices Sharply Higher on Dry Weather in Brazil and Tariff Threats

Ice Brazil Somar Meteorologia arabica Vietnam United States USDA

September arabica coffee (KCU25) on Monday closed up +15.35 (+5.36%), and September ICE robusta coffee (RMU25) closed up +303 (+9.42%).

Coffee prices soared on Monday, with arabica coffee climbing to a 2-week high. Excessive dryness in Brazil sparked fund short covering in coffee futures Monday after Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended July 12.

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