Weather boosts coffee futures

2 November 1999

Weather boosts coffee futures

COFFEE futures rose amid renewed forecasts of dry weather in Brazil, the largest producer, according to the Financial Times.

London-traded robusta for January delivery closed at $1265/t, a gain of $25 on the day.

In New York, the highest volume December arabica contract was up 8.8% cents at 109¢/lb in the afternoon.

The same newspaper also reports that agricultural export volumes are up from Brazil in the aftermath of a devaluation of the currency.

Prices of commodities besides coffee have been depressed.

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