Coffee futures dropped to the lowest since 2006 in New York as a global oversupply weighs on the market.
Arabica coffee, favored for specialty drinks such as those made by Starbucks Corp., has been one of the worst-performing commodities in the past year. Much of the slump has been driven by top producer Brazil, which harvested a record amount of coffee in 2018 and is preparing to collect another big crop this year.
