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Rich Asplund

BIZARRE: Coffee closes higher on global coffee crop concerns - What They Never Told You

Ice Brazil Vietnam Somar Meteorologia USDA Minas Gerais International Coffee Organization Volcafe

July arabica coffee (KCN24) on Monday closed up +3.00 (+1.34%), and July ICE robusta coffee (RMN24) closed up +48 (+1.17%).

Coffee prices Monday closed moderately higher due to concerns that drier-than-normal conditions will adversely affect Brazil's coffee crops. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rain for the second straight week in the past week. Minas Gerais accounts for about 30% of Brazil's arabica crop.

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