Benchmark arabica coffee futures fell 3 percent to a two-week low Thursday, dragged down by light producer selling and speculative liquidation, market sources said.
The New York Board of Trade's active arabica contract for July delivery lost 3.50 cents to settle at $1.08 a lb., after trading from $1.0730 to $1.11. It was the weakest finish for the contract since April 12. The September delivery likewise slid 3.50 cents to end at $1.1075, and back months slipped 3.35 to 3.45 cents.