March arabica coffee (KCH25) Thursday closed down -3.95 (-1.20%), and January ICE robusta coffee (RMF25) did not trade Thursday with UK markets closed for the Boxing Day holiday.
Arabica coffee prices posted moderate losses on Thursday and have been under pressure this week from an increase in current supplies after ICE-monitored arabica coffee inventories on Monday climbed to a 2-1/2 year high of 990,395 bags. Also, the Brazilian real (^USDBRL) remains weak and is consolidating mildly above last Wednesday's record low against the dollar. The weak real encourages export selling by Brazil's coffee producers.
