May arabica coffee (KCK24) on Monday closed down -0.70 (-0.39%), and May ICE robusta coffee (RMK24) closed down -10 (-0.33%).
Coffee prices on Monday settled lower on reduced concerns about dry conditions in Brazil. Somar Meteorologia Monday reported that Brazil's Minas Gerais region received 59.5 mm of rainfall in the past week, or 131% of the historical average. Minas Gerais accounts for about 30% of Brazil's arabica crop.
