Economics
Brazil's Currency Drop Is Good News for Coffee Bears
- U.S. money managers are most bearish since late July
- Losses for Colombia's peso are also encouraging shipments
Coffee beans are cooled after the roasting process.
Photographer: Cassi Alexandra/BloombergThis article is for subscribers only.
Coffee bears are reaping rewards from a sweeping plunge in emerging-market currencies.
Brazil and Colombia, the world’s largest suppliers of arabica coffee, have seen the value of their currencies decline because of stagnating growth and a collapse in oil prices. As exporters increase shipments to customers buying in dollars, prices for the commodity have tumbled to the lowest since January 2014.