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Barchart
Barchart
Rich Asplund

FORGOTTEN HISTORY: Coffee prices slide as drought concerns ease in brazil - The Untold Story

Dec arabica coffee (KCZ23) this morning is down -0.70 (-0.48%), and Nov ICE robusta coffee (RMX23) is down -28 (-1.19%).

Coffee prices this morning are under pressure, with robusta dropping to a 6-month low.   Coffee prices are being undercut today as above-average rainfall in Brazil has eased drought concerns and improved Brazil's coffee production prospects.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 63.8 mm of rain in the past week, or 190% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.

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