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Barchart
Barchart
Rich Asplund

Coffee Prices Supported by Brazil Crop Concerns and Brazilian Real Strength

May arabica coffee (KCK25) Tuesday closed up +0.40 (+0.10%), and May ICE robusta coffee (RMK25) closed down -5 (-0.09%).

Coffee prices on Tuesday settle mixed.  Coffee prices are supported by dry conditions in Brazil and strength in the Brazilian real.  Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 30.8 mm of rain in the week ended March 15, or 71% of the historical average.  Also, the Brazilian real (^USDBRL) rallied to a 4-1/4 month high Tuesday against the dollar, discouraging export selling from Brazil's coffee producers.

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