
July arabica coffee (KCN23) on Monday closed down -5.10 (-2.68%), and July ICE robusta coffee (RMN23) closed down -22 (-0.81%).
Coffee prices Monday closed sharply lower on dry conditions in Brazil that are allowing the pace of the country's coffee harvest to pick up. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 0.2 mm of rain in the week ended June 11, or 2% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.