Arabica coffee futures sagged to a new nine-month low Tuesday on limited industry support and continued speculative selling as top coffee grower Brazil harvests a hearty crop, traders said.
The New York Board of Trade's active coffee contract for July delivery fell 0.35 cent to settle at 95.30 cents per lb., the weakest finish since September 19, 2005. September shed 0.50 cent to end at 97.95 cents a lb., and back month arabicas finished off 0.55 cent to up 0.10 cent per lb.