Nov. 6 (Bloomberg) -- Coffee dropped the most in two weeks on speculation that sales will rise by producers in Brazil, the world’s biggest grower. Cocoa slid and orange juice gained.

Yesterday, coffee jumped as much as 2.3 percent in New York on signs that above-average rainfall in Brazil may curb output. Prices neared a 13 month high, reached on Oct. 19, potentially spurring sales by producers in South America, according to Joe Nikruto, an RJO Futures senior broker.

“These are fairly attractive levels, considering where we had been,” Nikruto said from Chicago. “It could be an opportunity for South American folks to lock in some profits.”

Arabica-coffee futures for December delivery fell 3.2 cents, or 2.3 percent, to $1.389 a pound on ICE Futures U.S. in New York, the steepest decline for a most-active contract since Oct. 23. The most-active contract gained 2.5 percent for the week, ending two weeks of losses.

Yesterday, coffee touched $1.44, the highest since Oct. 21 and within 1 percent of the 13-month high of $1.454. Prices have gained 24 percent this year amid tight supplies from Central America and Colombia, the world’s third-largest producer after Brazil and Vietnam.

Coffee may have a hard time rising past $1.45 without an increase in investment demand, Nikruto said. Index funds also have been “light sellers,” he said.

Cocoa futures for March delivery fell $39, or 1.2 percent, to $3,237 a metric ton on ICE. The chocolate ingredient fell 1.8 percent for the week, paring this year’s gain to 21 percent.

Orange-juice futures for January delivery rose 0.6 cent, or 0.5 percent, to $1.1595 a pound in New York. Little changed this week, the price has surged 71 percent in 2009 on forecasts for a smaller orange crop in Florida, the world’s largest grower after Brazil.

To contact the reporter on this story: Yi Tian in New York at ytian8@bloomberg.net.

Last Updated: November 6, 2009 15:40 EST