Dec arabica coffee (KCZ23) on Friday closed down -3.70 (-2.39%), and Nov ICE robusta coffee (RMX23) closed down -3 (-0.12%).
Coffee prices Friday posted moderate losses, with arabica falling to a 1-week low. Forecasts for rain in Brazil have eased drought concerns and sparked long liquidation in coffee futures. Rural Clima Meteorologia on Friday said Brazil should see some rain through next week. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received only 2.5 mm of rain in the past week, or 20% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.
