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Rich Asplund

Coffee Prices Soar on Brazil Crop Concerns

Ice Brazil BI FAs

September arabica coffee (KCU26) today is up +21.60 (+7.78%), and September ICE robusta coffee (RMU26) is up +159 (+4.47%).

Coffee prices are soaring today, as arabica and robusta posted 4.5-month highs. Heavy rains in Brazil are delaying the country’s coffee harvest and raising concerns about the crop. Somar Meteorologia reported on Monday that rainfall in Minas Gerais, Brazil’s biggest coffee-growing region, was 31.3 mm of rain in the week through June 28, or 1,956% of the historical average.

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