July arabica coffee (KCN26) on Wednesday closed up +0.60 (+0.22%), and July ICE robusta coffee (RMN26) closed up +11 (+0.30%).
Coffee prices on Wednesday extended this week’s rally and posted fresh 5-week highs. Coffee prices are climbing over concerns that persistent rain in Brazil will delay the coffee harvest. Forecaster Vaisala said moderate to heavy rainfall is forecast across Brazil’s coffee-growing regions this week. However, coffee prices fell back from their best level after meteorologist Climatempo said that Brazil’s key coffee-growing regions are expected to see mostly dry weather next week.