
July arabica coffee (KCN23) this morning is down -4.45 (-2.45%), and July ICE robusta coffee (RMN23) is down -7 (-0.27%).
Coffee prices this morning are moving lower, with arabica falling to a 1-1/2 month low. Harvest pressures in Brazil are undercutting arabica coffee prices as dry conditions allow the pace of the coffee harvest to accelerate. Meteorologia reported today that Brazil's Minas Gerais region received no rain in the week ended May 28, or 0% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.