Arabica climbs to a 2-week high while Robusta at 1-1/2 month high

Coffee prices are moderately higher, with arabica climbing to a 2-week high and robusta posting a 1-1/2 month high.  

Arabica is climbing today as forecasts for heavy rain over the next ten days in Brazil’s Minas Gerais region sparked fund short-covering.  

The heavy rain could flood coffee farms and curb yields in Minas Gerais, Brazil’s largest arabica coffee growing region.

March arabica coffee rose 1.9% to $1.7125 per lb, having gained 0.1% on Wednesday.

CTA analyst Ryan Delaney said coffee has garnered support from the massive hailstorm that hit top producer Brazil this week, which he estimates damaged the developing crop by 0.1-2.7 million bags.

March robusta coffee rose 0.2% to $1,882 a tonne.

Coffee markets in top robusta producer Vietnam were subdued this week, with buyers lacking interest and bulk supplies not reaching traders as beans were still in the drying process.