Arabica futures jump again, as Brazil dryness worries mount
Arabica coffee futures jumped again, taking gains for the week to 8% – and rebuilding their premium to robusta beans – amid “worrisome” forecasts for further dryness in major Brazilian growing areas. New York-traded arabica coffee futures for December, the best-traded contract, closed up 2.7% at 141.40 cents a pound, the highest finish in a month. The gains came amid fresh concerns over dryness in central Brazil, worries which have spurred gains in soybeans futures too, for which the country’s sowings window is opening, and which have gained further traction with the increased chance of a La Nina, which has a history of curbing rains in parts of the country.
More: http://www.agrimoney.com/news/arabica