Dec arabica coffee (KCZ23) on Tuesday closed up +1.55 (+1.02%), and Nov ICE robusta coffee (RMX23) closed down -30 (-1.21%).
Coffee prices Tuesday settled mixed, with robusta falling to a 1-week low. Arabica recovered from a 2-week low Tuesday and posted moderate gains on concern that excessive rain in Brazil's coffee-growing areas will delay the completion of its coffee harvest. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 22.8 mm of rain in the past week, or 308% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.
