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.
- Brazilian coffee prices rise, FWi, 14 October 1999
- Brazil exports record coffee crop, FWi, 30 July 1999
- Financial Times 02/11/99 page 44, page 1 – IV (Brazil survey)