July arabica coffee (KCN24) this morning is down -0.50 (-0.25%), and July ICE robusta coffee (RMN24) is up +26 (+0.77%). Coffee prices this morning are mixed. Arabica coffee is under modest pressure today on a rebound in ICE coffee inventories after ICE-monitored arabica coffee inventories on Tuesday rose to a 1-year high. Robusta is moderately higher today as it recovers some of Tuesday’s sharp losses. Dryness in Brazil could reduce coffee yields, which would be bullish for prices. Somar Meteorologia reported Monday that Brazil’s Minas Gerais region received no rainfall or 0% of the historica…