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Barchart
Barchart
Rich Asplund

THE TRUTH ABOUT: Adverse global weather boosts coffee prices - The Untold Story

December arabica coffee (KCZ24) today is up +8.80 (+3.73%), and November ICE robusta coffee (RMX24) is up +84 (+1.76%).

Coffee prices today are sharply higher on adverse global weather events.  Dry conditions in Brazil, the world's largest producer of arabica coffee, are bullish for prices after Somar Meteorologia reported today that Brazil's Minas Gerais region received no rain over the past week.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Robusta coffee prices jumped today after typhoon Yagi struck Vietnam today, which could damage the country's coffee fields.

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