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Rich Asplund

Coffee Prices Under Pressure as Brazil's Coffee Harvest Accelerates

Ice Brazil Cooxupe Deficit Vietnam arabica Cecafe El Nino ICO Rabobank

Sep arabica coffee (KCU23) this morning is down -0.60 (-0.37%), and Sep ICE robusta coffee (RMU23) is down -11 (-0.41%).

Coffee prices this morning are moderately lower.  Dry conditions in Brazil have accelerated the country's coffee harvest, boosting supplies and undercutting prices.  Cooxupe, Brazil's coffee export cooperative, reported today that Brazil's coffee harvest was 74.9% completed as of Aug 4, ahead of the 71.7% completed at the same time last year.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rain last week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  

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