Coffee Prices Leap to 12-Year High on Weak Dollar; Cocoa Mixed
This article is for subscribers only.
Coffee prices rose in New York to the highest level in more than 12 years as the dollar fell, boosting the appeal of some commodities. Cocoa was mixed.
The greenback dropped against a basket of six major currencies after gaining the previous five sessions. The Reuters/Jefferies CRB Index of 19 raw materials gained as much as 0.5 percent before a plunge in wheat prices dragged the index down. Coffee climbed 6.1 percent last week on speculation that too much rain will hurt crops in Brazil and Colombia, the world’s largest producers of arabica beans.