Brazil’s arabica coffee futures down nearly 4% as frost concerns subside

Traders said there was widespread profit-taking in the market but prices should soon find a floor as Brazil's next arabica crop will come in at least 10% smaller than initially expected.

RIO DE JANEIRO, BRAZIL - Arabica coffee futures on the Intercontinental Exchange (ICE) closed down nearly 4% on Monday, retreating further from last week's nearly 7-year high as the damage of a new wave of frost over the weekend in top producer Brazil was considered limited.

Arabica coffee for September delivery closed down 6.75 cents, or 3.8%, at US$1.728 a pound, after retreating 8.6% on Friday in sharp reversal from a peak above US$2 earlier in the week.

The frosts that hit Brazil last Friday and Saturday, the second such weather event to . . .

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