Coffee soars. But Cindy proves mixed blessing for row crops
Arabica coffee futures notched up their biggest one-day rise a year in New York, bouncing 5.6% from a 16-month closing low to end at 123.00 cents a pound for September delivery. The rebound tallied with ideas that the selling which had shrunk the arabica premium over robusta coffee to its lowest since at least 2008 in the last session had gone too far, as Agrimoney.com reported earlier. In fact, arabica futures far outpaced robusta coffee for September, which added 2.4% to $2,078 a tonne, but nonetheless allowed the arabica premium to rebuild to nearly 29 cents a pound.
More: http://www.agrimoney.com/marketreport/coffee-soars.-but-cindy-proves-mixed-blessing-for-row-crops–4147.html