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Barchart
Barchart
Rich Asplund

Coffee Prices Underpinned by Dry Conditions in Brazil

Ice Brazil USDA Vietnam International Coffee Organization Rabobank

May arabica coffee (KCK24) this morning is up +1.80 (+0.97%), and May ICE robusta coffee (RMK24) is up +13 (+0.38%).

Coffee prices this morning are moderately higher, with robusta posting a 2-week high.  Forecasts for limited rain in Brazil's coffee-growing regions over the next week are underpinning coffee prices.  Recent rain in Brazil has been below average as Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 6.6 mm of rainfall in the past week, or 16% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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