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Rich Asplund

Coffee Prices Tumble as Rain in Brazil Eases Drought Concerns

Ice Brazil Drought Vietnam Somar Meteorologia the USDA FAS Minas Gerais Deficit the International Coffee Organization USDA

September arabica coffee (KCU24) today is down -6.25 (-2.51%), and Sep ICE robusta coffee (RMU24) is down -26 (-0.56%).

Coffee prices today are moving lower on increased precipitation in Brazil, which is alleviating concerns about dryness.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 4.6 mm of rain last week, or 329% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  

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