December arabica coffee (KCZ24) Tuesday closed down -5.35 (-2.04%), and November ICE robusta coffee (RMX24) closed down -60 (-1.21%).
Coffee prices Tuesday gave up early gains and posted moderate losses on the outlook for rain in Brazil. Arabica coffee fell from a 1-1/2 week high Tuesday, and robusta fell from a 1-week high as long liquidation pressures knocked prices lower when meteorologist Climatempo said Brazil's top coffee-producing areas should receive large volumes of rain starting this weekend. Coffee prices added to their losses Tuesday when the Brazilian real (^USDBRL) fell to a 1-month low against the dollar, encouraging export selling from Brazil's coffee producers.
