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Rich Asplund

Coffee Prices Soar on Dry Brazilian Weather and Tighter US Supplies

Ice Brazil United States Cecafe Vietnam FAs

September arabica coffee (KCU25) on Tuesday closed up +12.60 (+3.67%), and September ICE robusta coffee (RMU25) closed up +255 (+6.14%).

Coffee prices extended their sharp two-week-long rally Tuesday, with arabica coffee posting a 2.25-month high and robusta posting a 2-month high.  Weather concerns in Brazil are underpinning coffee prices.  On Monday, Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended August 16.  

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