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Rich Asplund

Slack Brazil Rains Underpin Coffee Prices

Ice Brazil arabica United States Conab USDA Vietnam Marex Solutions Volcafe

May arabica coffee (KCK25) today is up +6.60 (+1.79%), and May ICE robusta coffee (RMK25) is up +75 (+1.40%).

Coffee prices today extended this week's rally, with arabica coffee posting a 1-1/2 week high and robusta posting a 2-1/2 week high.  Coffee prices are climbing as below-normal rain in Brazil may hurt coffee yields.  Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 17.9 mm of rain in the week ended April 12, or 89% of the historical average.  Robusta coffee is also climbing on signs of tighter supplies after ICE-monitored robusta coffee inventories fell to a 3-1/2 month low today of 4,227 lots.

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