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Rich Asplund

MYSTERIOUS: Coffee prices recover early losses on crop concerns in brazil - What They Never Told You

Ice Brazil Vietnam NOV the USDA FAS ICO Volcafe

December arabica coffee (KCZ24) Wednesday closed up +1.20 (+0.47%).  November ICE robusta coffee (RMX24) closed up +80 (+1.65%).

Coffee prices recovered from early losses on Wednesday and settled moderately higher on coffee crop concerns in Brazil.  On Tuesday, Dec arabica posted a contract high, and nearest-futures (U24) posted a nearly 13-year high.  Also, Nov robusta posted a contract high, and nearest-futures (U24) posted a record high.  Excessive dryness in Brazil may cause premature flowering of coffee trees and reduce yields for Brazil's 2024/25 coffee crop.  The flowering period for arabica coffee in Brazil starts in September.  Maxar Technologies forecasts "mostly dry" conditions for the next two weeks for the coffee-growing regions of Brazil.

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