Coffee futures drop in New York after profit‑taking surge

Coffee arabica futures on the New York exchange fell sharply after a profit‑taking rally that had boosted prices by more than 12% in a single session earlier in the week. The September contract slipped about 3% to roughly $3.37 per pound, erasing part of the historic gain that was the largest daily rise in 26 years. Traders cited the impact of Brazil’s troubled coffee harvest and the risk of a strengthening El Niño climate pattern.

While coffee fell, cocoa prices rose over 5% on the same exchange, and sugar and orange‑juice contracts moved lower. Cotton edged higher. The price moves reflect both market positioning and concerns that El Niño could affect cocoa production in West Africa, which supplies about 70% of global output.