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Barchart
Barchart
Rich Asplund

Coffee Prices Sharply Higher on Global Crop Concerns

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March arabica coffee (KCH26) on Tuesday closed up +6.75 (+1.79%), and January ICE robusta coffee (RMF26) closed up +106 (+2.38%).

Coffee prices rose sharply on Tuesday as adverse weather sparked concerns about global coffee crops.  Arabica coffee has support due to dryness concerns in Brazil.  On Monday, Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received 26.4 mm of rain during the week ended November 21, or 49% of the historical average.  

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