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Rich Asplund

Coffee Prices Slip on Brazil Rains

Ice Brazil Conab Vietnam Marex Solutions Somar Meteorologia the USDA FAS USDA Vietnam General Statistics Office Volcafe

May arabica coffee (KCK25) Monday closed down -0.20 (-0.05%), and May ICE robusta coffee (RMK25) closed down -68 (-1.27%).

Coffee prices on Monday settled lower.  Coffee prices have been the defensive over the past week, with arabica falling to a 1-month nearest-futures low last Thursday and robusta dropping to a 2-1/4 month nearest-futures low.  Coffee prices have been undercut by reduced concern about dryness in Brazil.  Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 31.1 mm of rain in the week ended March 29, or 114% of the historical average.

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