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Barchart
Barchart
Rich Asplund

Coffee Rallies on Concern About Adverse Global Weather

Ice Brazil Vietnam USDA Cecafe ICO International Coffee Organization the USDA FAS

December arabica coffee (KCZ24) today is up +11.40 (+4.58%), and January ICE robusta coffee (RMF25) is up +159 (+3.69%).

Coffee prices today are sharply higher, with arabica climbing to a 3-week high and robusta posting a 1-week high.  Coffee prices are seeing support from concern that abnormally dry conditions in Brazil could curb its coffee production.  Somar Meteorologia reported Monday that rainfall in Brazil's biggest arabica coffee growing area of Minas Gerais received 27.4 mm of rain last week, or only 64% of the historical average.  Minas Gerais is Brazil's largest arabica coffee-producing area.

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