Coffee Declines on Brazil, Colombia Crops; Cocoa Drops

Coffee extended losses in New York on speculation investors will continue to sell the futures as top grower Brazil will have an all-time high crop for a lower-yielding year and as output in Colombia recovers. Cocoa fell.

Growers in Brazil will harvest a record crop for a year in which trees enter the lower-yielding half of a two-year cycle, according to cooperative Cooparaiso in Sao Sebastiao do Paraiso in the state of Minas Gerais. Output in Colombia will rise 30 percent this year, Luis Genaro Munoz, head of the National Federation of Coffee Growers, estimated.