September arabica coffee (KCU24) today is down -9.60 (-3.91%), and Sep ICE robusta coffee (RMU24) is down -77 (-1.74%).
Coffee prices today are under pressure after Brazil's weather forecasts for next week shifted warmer, which reduces the chances of frost damaging coffee trees and sparked long liquidation in coffee futures. Coffee prices have rallied this week, with arabica posting a 1-month high Thursday and robusta posting a 2-1/2 week high on concern that freezing temperatures in Brazil could damage coffee crops. Meteorologist Rural Clima had forecasted that temperatures in Brazil could drop to near freezing next week.
