Arabica coffee futures weighed down by plentiful supplies

* May arabica coffee fell 0.65 cents, or 0.65 percent, to 99 cents per lb, after rising 2.4 percent on Tuesday as some market players sought to pick up bargains following recent falls.

* Speculators lifted their net short position on ICE arabica coffee futures in the week to Feb. 26 to its biggest in four months, data showed.

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* “You’re moving from a period of more than enough (coffee supply) to still more than enough but not quite as much. It should find a floor eventually but investment funds are very keen to keep selling,” said a dealer.

* Last week, prices fell to a more than five-month low of 96.35 cents, weighed down by plentiful supplies.

* May robusta coffee rose $1, or 0.1 percent, at $1,528 per tonne.

Copyright Reuters, 2019