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Arabica coffee futures hit the lowest prices since the end of March

Arabica coffee futures hit the lowest prices since the end of March.July arabica coffee KCc2 settled down 2.25 cents, or 1.0%, at $2.1945 per lb, losing the technically important support level of $2.20.

Dealers said the market was technically weak with potential for prices to test new support levels at $2.15 and then $2.10.

Traders were still digesting the increase in green coffee stocks this week in the United States, the first in six months in the world's largest consumer.An increase in supplies and demand concerns weigh on coffee prices.  The Green Coffee Association on Monday reported that U.S. March green coffee inventories rose +1.0% m/m and +2.5% y/y to 5.82 million bags.  Also, demand concerns are negative for prices, with the war in Ukraine showing no signs of ending. 

July robusta coffee LRCc2 rose 0.1% to $2,090 a tonne, edging away from the prior session's six-week low of $2,058.

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