Rabobank sees ICE arabica coffee higher in long term.

Benchmark contracts of arabica coffee on ICE are expected to rise in the long term, due to a likely fall in production in Brazil, world largest coffee grower. The most active July contract of arabica coffee on ICE was at 130.4 cents per pound, down 0.3% from previous close. Lack of adequate rainfall in Brazil main coffee growing areas may hamper growth of coffee beans and lead to a drop-in production in 2018, Futures of arabica coffee have been under pressure due to speculative selling due to lack of major cues and no major movement in currencies,