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Barchart
Barchart
Rich Asplund

Coffee Prices Surge on Brazil Crop Concerns and Tighter US Supplies

Ice Brazil United States arabica Cecafe Vietnam FAs

September arabica coffee (KCU25) today is up +12.25 (+3.40%), and September ICE robusta coffee (RMU25) is up +99 (+2.13%).

Coffee prices extended their sharp two-week-long rally today, with arabica coffee posting a 2.5-month high and robusta posting a 2.75-month high.  Weather concerns in Brazil have sparked fund buying of coffee futures.  On Monday, Somar Meteorologia reported that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended August 16.  Reports of damage to some of Brazil's coffee crop from last week's frost are also boosting prices.

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