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Barchart
Barchart
Rich Asplund

Tight Supplies and Brazil Weather Concerns Boost Coffee Prices

Ice Brazil Cecafe United States Vietnam arabica FAs

December arabica coffee (KCZ25) today is up +8.00 (+2.12%), and November ICE robusta coffee (RMX25) is up +54 (+1.12%).

Coffee prices are climbing today but remain below Thursday's 3.5-month highs.  Coffee prices have rallied sharply over the past four weeks due to tighter supplies concerns about weather conditions in Brazil.  ICE robusta coffee inventories fell to a 1-month low of 6,552 lots on Thursday.  Also, ICE-monitored arabica inventories fell to a 1.25-year low of 714,936 bags on Thursday.  Meanwhile, Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended August 23.  Reports of damage to some of Brazil's coffee crop from last week's frost are also boosting prices.

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