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Barchart
Barchart
Rich Asplund

SHOCKING: Arabica coffee closes higher on supply concerns - What They Never Told You

Sep arabica coffee (KCU23) on Thursday closed up +2.55 (+1.64%), and Sep ICE robusta coffee (RMU23) closed down -68 (-2.61%).

Coffee prices on Thursday settled mixed.  Arabica has support from recent heavy rain in Brazil's Minas Gerais region that may delay the country’s coffee harvest.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 5.1 mm of rain last week, or 850% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Robusta is under pressure on negative carryover from last Thursday when Cecafe reported Brazil's June robusta exports rose +60% y/y to 230,653 bags.

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