July arabica coffee (KCN24) this morning is up +1.20 (+0.55%), and July ICE robusta coffee (RMN24) is up +33 (+0.82%). Coffee prices this morning recovered from 2-week lows and are moderately higher. Short covering emerged in coffee futures today after updated weather forecasts reduced the chances for rain in Brazil next week. Dryness in Brazil that could reduce coffee yields supports prices after Somar Meteorologia reported Monday that Brazil’s Minas Gerais region received no rainfall or 0% of the historical average in the past week. Minas Gerais accounts for about 30% of Brazil’s arabica cro…