Coffee Crop Prayers for Rain Met With Threat of a Deluge
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Brazil’s drought made arabica coffee this year’s best-performing commodity. Now, farmers are facing a downpour that is once more threatening crops.
An unprecedented three months with almost no moisture eroded crop prospects for the world’s largest grower, signaling the first global shortages in five years, according to Marex Spectron, a brokerage. As farmers harvest the bulk of the crop from May through July, forecaster Somar Meteorologia predicts an El Nino weather pattern will drop enough moisture in the South American country to cause more damage.