Arabica coffee lowest since June

Arabica coffee fell to its lowest since June as the market focused on abundant supplies.

  * May arabica coffeefell 1.65 cent, or 1.4 percent,at $1.165 per lb, after falling to $1.163, the lowest for the spot contract since June 2017.

   * “There is too much selling from the specs on old news.Everybody knows the Brazilian crop is going to be a good one,” said Rodrigo Costa, director of trading for Comexim USA, adding that the market is “overdone” on the downside.

Robusta coffee and cocoa markets remained closed for the long Easter holiday weekend and will reopen on Tuesday.

Copyright Reuters, 2018

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