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 . . .