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Barchart
Barchart
Rich Asplund

Coffee Prices Slump on the Outlook for a Bumper Brazil Coffee Crop

Ice Brazil FAs

March arabica coffee (KCH26) on Tuesday closed down -5.65 (-1.88%), and March ICE robusta coffee (RMH26) closed down -91 (-2.37%).

Coffee prices settled sharply lower on Tuesday as increased precipitation in Brazil improved the outlook for the country's coffee crop.  On Monday, arabica fell to a 6-month low as concerns over dry conditions in Brazil eased when Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received 72.6 mm of rain during the week ended February 6, or 113% of the historical average.

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