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Barchart
Barchart
Rich Asplund

Robusta Coffee Posts a Record High as Adverse Weather Threatens Global Coffee Crops

Ice Brazil Arabica Vietnam the USDA FAS USDA ICO Volcafe

September arabica coffee (KCU24) on Wednesday closed unchanged, and Sep ICE robusta coffee (RMU24) closed up +75 (+1.54%).

Coffee prices Wednesday settled mixed, with robusta posting an all-time high.  Arabica coffee Wednesday gave up early gains and closed unchanged after the Brazilian real (^USDBRL) fell to a 1-week low against the dollar, encouraging export selling by Brazil's coffee producers.  Coffee prices are supported by adverse weather conditions in Brazil and Vietnam that threaten global coffee crops.  Rural Clima said Wednesday that there is a chance that the forecast for low temperatures in Brazil this weekend could bring frost to Brazil's coffee-growing regions, potentially damaging coffee trees.

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