Dec arabica coffee (KCZ23) on Tuesday closed down -0.35 (-0.23%), and Nov ICE robusta coffee (RMX23) closed down -51 (-2.07%).
Coffee prices Tuesday posted moderate losses, with robusta falling to a 3-week low. Forecasts for rain in Brazil's coffee-growing regions have eased dryness concerns and sparked the selling of coffee futures. Forecaster Maxar Technologies said Brazil's coffee growing areas will see moderate to heavy rain in the next ten days, which should boost soil moisture for cherry growth, trigger widespread flowering of coffee plants, and boost the yields for Brazil's 2024/25 coffee crop.
