December arabica coffee (KCZ25) today is down -0.40 (-0.10%), and January ICE robusta coffee (RMF26) is up +65 (+1.46%).
Coffee prices are mixed today. Arabica coffee prices have been under pressure since posting an 8.5-month nearest-futures high last Thursday. Coffee prices are being undercut by forecasts for rain this week in key coffee-growing areas of Brazil, which would partially alleviate dry conditions from last week. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received only 0.3 mm of rain during the week ended October 24, or 1% of the historical average.
