July arabica coffee (KCN23) this morning is down -1.95 (-1.04%), and July ICE robusta coffee (RMN23) closed down -11 (-0.46%).
Coffee prices this morning are moderately lower, with arabica falling to a 2-1/2 week low. Coffee prices are lower on concern that a slowdown in the global economy will curb coffee demand after today's news that the Eurozone economy grew slightly less than expected in Q1. That came after Thursday's weaker-than-expected U.S. Q1 GDP report. Robusta coffee is also under pressure on the increase in inventories after ICE monitored robusta coffee inventories climbed to a 4-1/2 month high Thursday.
