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Rich Asplund

SHOCKING: Coffee closes sharply higher as crop concerns spark fund buying - You Need To See This

Ice Brazil Vietnam ICO International Coffee Organization USDA

July arabica coffee (KCN24) on Friday closed up +8.70 (+4.40%), and July ICE robusta coffee (RMN24) closed up +98 (+2.87%).

Coffee prices Friday rallied to 2-week highs and finished sharply higher.  Insufficient rainfall in Vietnam and Brazil may curb global coffee production and has sparked fund buying of coffee futures.  On Monday, Vietnam's National Weather Agency said rainfall in Vietnam's Central Highland, the main coffee-growing region, totaled 195.6 mm in the ten days from May 1, 41% below the long-term average.  

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