September arabica coffee (KCU26) on Wednesday closed up +13.45 (+4.54%), and September ICE robusta coffee (RMU26) closed up +113 (+3.09%).
Coffee prices surged on Wednesday for a second session and posted 4.75-month highs. Heavy rains in Brazil have delayed the country’s coffee harvest and are 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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