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Barchart
Barchart
Rich Asplund

EXPLAINED: Rain in brazil undercuts coffee prices | Rare Historical Photos

Ice Brazil DEC NOV the USDA FAS Vietnam Cecafe International Coffee Organization USDA

December arabica coffee (KCZ24) today is down -3.50 (-1.36%), and November ICE robusta coffee (RMX24) is down -106 (-2.25%).

Coffee prices today are posting moderate losses, with arabica falling to a 1-week low and robusta tumbling to a 2-1/4 month low.  Above-average rainfall in Brazil is weighing on coffee prices.  Somar Meteorologia reported today that Brazil's Minas Gerais region received 36.8 mm of rain over the past week, or 115% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Also, meteorologist Climatempo said today that more significant rains are expected in Minas Gerais from Friday onwards, which will keep temperatures milder and improve soil moisture levels.

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