May arabica coffee (KCK25) Monday closed up +2.70 (+0.75%), and May ICE robusta coffee (RMK25) closed up +164 (+3.22%).
Coffee prices on Monday moved higher and posted 1-week highs. Below-normal rain in Brazil supported coffee prices after Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 17.9 mm of rain in the week ended April 12, or 89% of the historical average. Robusta coffee is also climbing on signs of tighter supplies after ICE-monitored robusta coffee inventories fell to a 6-week low Monday of 4,249 lots.
