May arabica coffee (KCK24) this morning is down -2.45 (-1.31%), and May ICE robusta coffee (RMK24) is down -12 (-0.38%). Coffee prices this morning are moderately lower. A rebound in ICE-monitored coffee supplies is undercutting coffee prices. On Monday, ICE-monitored arabica inventories rose to a 4-month high of 371,107 bags. Also, ICE-monitored robusta coffee inventories climbed to a 3-week high last Wednesday. On Monday, arabica coffee climbed to a 2-week high, and robusta rose to a 3-week high on below-average rainfall in Brazil’s coffee-growing regions. Somar Meteorologia reported Monday …