Coffee Futures Tumble as Dry Weather Spurs Faster Brazil Harvest

Arabica coffee prices in New York plunged to the lowest level since November as the return of dry weather helps accelerate harvesting in top grower Brazil amid concerns over a weakness in demand.

The most-active contract fell as much as 4.2%, to $2.796 per pound. Robusta futures fell as much as 4.4% in London, briefly extending declines after US President Donald Trump said he had reached a trade deal with Vietnam, the world’s biggest grower of the bean used in instant coffee.