December arabica coffee (KCZ24) Monday closed down -0.90 (-0.35%), and November ICE robusta coffee (RMX24) closed down -21 (-0.40%). Coffee prices Monday gave up an early advance and posted moderate losses. Early Monday, Dec arabica and Nov robusta posted contract highs, while nearest-futures (U24) robusta posted a new all-time high. Coffee prices have rallied sharply over the past week as adverse global weather events threaten coffee production. Coffee prices later on Monday ran into some long liquidation pressure after the recent sharp gains. Brazil has been facing the driest weather since 1…