Economics
Coffee Futures Jump to 32-Month High on Brazil Crop Woes
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Coffee futures surged to a 32-month high on speculation that persistent drought will curb next year’s harvest in Brazil, the world’s largest grower and exporter.
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 in a telephone interview. Arabica-coffee prices have almost doubled this year with crops parched since the start of the year.