March arabica coffee (KCH24) on Friday closed up +7.50 (+3.97%), and Mar ICE robusta coffee (RMH24) closed up +104 (+3.20%). Coffee prices on Friday rallied sharply to 1-week highs. Forecasts for limited rain in Brazil over the next week pushed arabica coffee prices higher Friday. Robusta rallied on dwindling supplies after ICE-monitored robusta coffee inventories fell to a new record low Friday. Dry conditions in Brazil are supporting arabica coffee prices. Somar Meteorologia reported Monday that Brazil’s Minas Gerais region received 30.9 mm of rainfall in the past week, or 49% of the histori…