July arabica coffee (KCN23) on Monday closed up +2.80 (+1.55%), and July ICE robusta coffee (RMN23) closed up +32 (+1.24%).
Coffee prices Monday closed moderately higher. Strength in the Brazilian real (^USDBRL) boosted coffee prices as the real on Monday rose to a 2-1/2 week high against the dollar. Coffee prices also garnered support on concerns heavy rain in Brazil's coffee-growing areas will slow the country's coffee harvest. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 31.4 mm of rain in the week ended June 4, or 158% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.
