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Barchart
Barchart
Rich Asplund

Coffee Prices Slip on Brazil Rains and as Concerns About EU Regulations Ease

Ice Brazil European Union Vietnam the USDA FAS USDA Cecafe Deforestation ICO the International Coffee Organization

December arabica coffee (KCZ24) today is down -2.55 (-0.90%), and January ICE robusta coffee (RMF25) is down -73 (-1.53%).

Coffee prices today gave up an early advance and are moderately lower.  Arabica fell back from a 13-year nearest-futures high, and robusta retreated from a 1-month high today as signs of rain in Brazil sparked long liquidation in coffee futures.  Somar Meteorologia reported today that rainfall in Brazil's biggest arabica coffee growing area of Minas Gerais received 60.9 mm of rain last week, or 127% of the historical average.  Minas Gerais is Brazil's largest arabica coffee-producing area.

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