Coffee closed lower Wednesday after a day of choppy trading as investors tried to determine how producers in Brazil will handle coffee stocks from the recently completed harvest. Arabica coffee prices for December fell 0.5% to end at $1.181 a pound on the ICE Futures U.S. exchange after rising as high as $1.1198 a pound in early trading. While the coffee harvest in Brazil, the largest coffee-producing country, is complete, forecasters have given wide- ranging estimates of the size of this year’s crop. At the same time, U.S. green coffee stocks are at a 12-year-high, according to the Hightower Report, leading to questions about demand for the beans
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Did you know?
Raw coffee beans, soaked in water and spices, are chewed like candy in many parts of Africa.