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Barchart
Barchart
Rich Asplund

Coffee Prices Surge on Drought Conditions in Brazil's Coffee-Growing Regions

Ice Brazil Drought Vietnam Somar Meteorologia the USDA FAS the International Coffee Organization Volcafe

September arabica coffee (KCU24) today is up +10.80 (+4.80%), and July ICE robusta coffee (RMN24) is up +191 (+4.44%).

Coffee prices today rallied sharply to 2-week highs.  Coffee prices surged today on concern that drier-than-normal conditions will adversely affect Brazil's coffee crops.  Somar Meteorologia reported today that Brazil's Minas Gerais region received no rain for the third straight week last week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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