July arabica coffee (KCN24) on Wednesday closed down -1.50 (-0.65%), and July ICE robusta coffee (RMN24) closed up +57 (+1.38%). Coffee prices on Wednesday gave up sharp gains and settled mixed, with robusta climbing to a 1-month nearest-futures high. Coffee prices initially opened higher Wednesday, with arabica posting a 5-week high on concern that excessive dryness in Brazil and Vietnam will damage coffee crops and curb global production. Somar Meteorologia reported Monday that Brazil’s Minas Gerais region received 5.3 mm of rain or 69% of the historical average in the past week. Minas Gerai…