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Barchart
Barchart
Rich Asplund

Slack Rain and Frost Threats in Brazil Push Coffee Prices Sharply Higher

Ice Brazil Somar Meteorologia Vietnam arabica the USDA FAS

September arabica coffee (KCU25) Monday closed up +11.50 (+3.65%), and July ICE robusta coffee (RMN25) closed up +99 (+2.55%).

Coffee prices recovered from early losses Monday and rallied sharply.  Short covering emerged in coffee futures Monday due to below-normal rainfall in Brazil, following a report by Somar Meteorologia that Brazil’s largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended June 21.  

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