December arabica coffee (KCZ25) today is down -2.30 (-0.59%), and January ICE robusta coffee (RMF26) is down -7 (-0.15%).
Coffee prices are under pressure today but remain above Tuesday's 2-week lows. Prices are sliding amid forecasts of rain this week in key coffee-growing areas of Brazil, which would partially alleviate the dry conditions from last week. Somar Meteorologia reported Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received only 0.3 mm of rain during the week ended October 24, or 1% of the historical average.
