Coffee Long. According to CA analysts’ expectations, coffee prices reached the highest level in the last month, where they stopped at the upper resistance. Profits were collected on Friday. However, we expect that, given the fundamentals still in force, bull traders should find enough strength to break this level. Basically dry conditions in Brazil provided support for coffee prices on Monday after Somar Meteorologia announced that it had rained last week in Minas Gerais, Brazil’s largest Arabian coffee-growing region, just 4.7 mm, or 22% of the historical average. Coffee prices also support supply concerns after Citigroup said last Tuesday that Arabica coffee would have a “significant” production deficit of -7.5 million bales for the 2021/22 growing cycle.