May arabica coffee (KCK24) this morning is up +1.65 (+0.91%), and May ICE robusta coffee (RMK24) is up +39 (+1.28%).
Coffee prices this morning are posting moderate gains. The forecast for scant rain in Brazil over the next week supports arabica coffee prices. Robusta has garnered support over smaller coffee supplies from Vietnam after the country's General Statistics Office reported that Vietnam's Feb coffee exports fell -20 % y/y to 160,000 MT. Gains in arabica are limited by weakness in the Brazilian real (^USDBRL), which fell to a 3-week low against the dollar today. The weaker real encourages export selling by Brazil's coffee producers.
