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Rich Asplund

NY Coffee Prices Give Back Most of Monday's Rally

Ice Vietnam Brazil USDA Safras Mercado the USDA FAS Volcafe

September arabica coffee (KCU24) is down -4.40 (-1.81%), and Sep ICE robusta coffee (RMU24) is down -85 (-1.86%).

Coffee prices are seeing volatility in summer trade amidst a lack of fresh news. Arabica coffee prices today are down -1.81% and are giving back most of Monday's rally of +2.04%, which was sparked by news of no rain last week in Brazil. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rain last week, versus the historical average for the week of 2.6 mm. Minas Gerais accounts for about 30% of Brazil's arabica crop.

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