Arabica coffee futures closed down 3.9 percent early on Monday, correcting lower in its biggest one-day tumble in nearly three months, although the day's range was well inside that of Friday when the market surged. The key July raw sugar contract eased 0.36 cent to finish at 23.59 cents per lb. On Friday, the contract closed at 23.95 cents, its highest settlement since April 27. Traders said July seemingly pinned between the lows near 22 cents and the highs of 24 cents.
July arabica coffee futures dropped 10.45 cents, or 3.9 percent, to close at $2.6050 per lb, the spot contract's biggest one-day percentage fall since March 15. Key September cocoa futures closed down $15 at $2,879 a tonne. Market choppy with strong support around $2,850, basis July, said traders.
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