March arabica coffee (KCH25) Monday closed down -1.65 (-0.51%), and March ICE robusta coffee (RMH25) closed down -32 (-0.65%).
Coffee prices on Monday settled moderately lower, with arabica coffee falling to a 2-week low and robusta sliding to a 3-week low. Coffee prices are under pressure after recent above-average rain in Brazil eased drought concerns. Somar Meteorologia reported Monday that Brazil's biggest arabica coffee growing area of Minas Gerais received 102.8 mm of rain last week, or 182% of the historical average.
