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Coffee Futures Soar To 32-Month High Signal Retail Jump
FYI:Coffee futures surged to a 32-month high as persistent drought curbs harvest prospects in Brazil, increasing the odds for higher retail prices. Dry weather was forecast for the next 10 days after no “meaningful” rain fell over the weekend in Brazil’s main growing regions, Drew Lerner, the president of World Weather Inc. in Overland Park, Kansas, said yesterday in a telephone interview. Arabica-coffee prices have almost doubled this year as drought cut 2014 output and dimmed the outlook for 2015 in Brazil, the world’s top producer and exporter.
