Coffee futures fell to a two-week low amid signs of the US and Iran resuming negotiations.
Due to signs indicating an expected end to the Middle East conflict, global trade disrupted previously is expected to resume, causing Arabica coffee prices to fall to a two-week low. Carlos Mera, head of agricultural market research at Rabobank, said, "With a lack of fundamental news, the coffee market is following the overall weakness in the soft commodity sector and energy prices downward." New York Arabica coffee futures fell by as much as 2.1%, reaching the lowest level since April 8th; London market Robusta coffee fell by 1.4%.
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