Dec arabica coffee (KCZ23) this morning is down -2.60 (-1.75%), and Nov ICE robusta coffee (RMX23) is -31 (-1.29%).
Coffee prices this morning are moderately lower, with robusta dropping to a 5-3/4 month low. Improved weather conditions in Brazil have sparked fund selling of coffee futures. Forecasts for rain in Brazil's coffee-growing regions have eased dryness concerns and are bearish for coffee prices. Forecaster Maxar Technologies said Brazil's coffee growing areas will see moderate to heavy rain in the next ten days, which should boost soil moisture for cherry growth, trigger widespread flowering of coffee plants, and boost the yields for Brazil's 2024/25 coffee crop.
