December arabica coffee (KCZ24) Friday closed up +4.40 (+1.81%), and Sep ICE robusta coffee (RMU24) closed up +225 (+4.59%).
Coffee prices Friday recovered from early losses and moved higher, with robusta soaring to a new record high. Arabica posted a 2-1/2 year nearest-futures high Tuesday, and robusta soared to a record high Friday as adverse weather conditions in Brazil and Vietnam 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.
