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Barchart
Barchart
Rich Asplund

BIZARRE: Coffee prices settle higher on supply concerns - You Need To See This

Ice Brazil Somar Meteorologia USDA Conab Vietnam Marex Solutions Vietnam General Statistics Office Volcafe

May arabica coffee (KCK25) Tuesday closed up +9.30 (+2.45%), and May ICE robusta coffee (RMK25) closed up +103 (+1.95%).

Coffee prices on Tuesday recovered from 2-month lows and closed higher.  Short-covering emerged in coffee futures Tuesday due to weather concerns in Brazil after Somar Meteorologia forecasted limited rainfall in Brazil's coffee-growing regions over the next week to ten days.  Coffee prices added to their gains Tuesday after the Brazilian real (^USDBRL) rallied to a 1-1/2 week high against the dollar, discouraging export selling by Brazil's coffee producers.

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