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Barchart
Barchart
Rich Asplund

RARE PHOTOS: Arabica coffee posts moderate gains on brazil crop concerns - The Real Truth

Ice Brazil Vietnam International Coffee Organization Rabobank USDA

May arabica coffee (KCK24) on Friday closed up +5.75 (+2.78%), and May ICE robusta coffee (RMK24) closed down -22 (-0.58%).

Coffee prices on Friday settled mixed, with arabica posting a new 5-3/4 month high.  Arabica coffee prices are rallying due to the concern that recent heavy rain in Brazil's coffee-growing regions may have damaged coffee crops.  Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 75.4 mm of rainfall in the past week, or 335% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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