
July arabica coffee (KCN23) on Tuesday closed down -7.45 (-4.03%), and July ICE robusta coffee (RMN23) closed down -26 (-0.92%).
Coffee prices Tuesday sold off sharply, with arabica dropping to a 2-1/2 week low. Forecasts for favorable weather in Brazil that will allow farmers to finish the country's coffee harvest undercut prices. Losses in arabica coffee accelerated on technical selling after prices dropped below the 100-day and 200-day moving averages.