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Arabica coffee prices falls On forecasts for rain in Brazil

Coffee prices on Wednesday settled mixed, with robusta at a 1-week high. Arabica fell back from a 1-week high Wednesday and closed moderately lower after updated weather forecasts called for rain in Brazil’s coffee-growing regions this weekend.  Arabica had posted a 1-week high earlier Wednesday on concern that excessive dryness in Brazil may reduce the country’s coffee production.  Somar Meteorologia reported Monday that Minas Gerais, a region that accounts for about 30% of Brazil’s arabica coffee crop, received 4.8 mm of rain or only 8% of the historical average last week.  

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May arabica coffee Wednesday closed down -3.60 (-1.55%), and May ICE Robusta coffee closed up +23 (+1.10%).

Brazilian coffee areas are expected to receive rains in the coming days that will keep soil moisture in good levels as fruits enter maturation stage, dealers said.

Coffee giant Starbucks is suspending all business activity in major coffee importer Russia, including shipment of its products and also including cafes run by a licensee.

May arabica coffee KCc2 fell 3.6 cents, or 1.5%, at $2.293 per lb.

 May robusta coffee LRCc2 rose $23, or 1.1%, to $2,117 a tonne.

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