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Rich Asplund

SHOCKING: Coffee closes moderately higher on excessive dryness in brazil | Mind Blowing Facts

Brazil Ice Vietnam USDA International Coffee Organization Vietnam General Statistics Office

May arabica coffee (KCK24) on Monday closed up +3.60 (+1.96%), and May ICE robusta coffee (RMK24) closed up +46 (+1.46%).

Coffee prices on Monday posted moderate gains, with arabica climbing to a 2-week high and robusta rising to a 3-week high. Below-average rainfall in Brazil's coffee-growing regions is boosting coffee prices after Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 29.4 mm of rainfall in the past week, or 50% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.

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