Morning Caffeine Fix Gets Cheaper as Rains Boost Brazil Supplies
- Coffee futures in N.Y. head for sixth straight monthly loss
- U.S. average retail-prices decline to lowest since 2011
Is Your Morning Caffeine Fix About to Get Cheaper?
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Hedge funds are betting your morning cup of coffee is going to get cheaper, even as prices head for a sixth straight monthly loss.
Arabica-coffee futures tumbled in 2015 as ample rains boosted crops in Brazil, the world’s biggest producer and exporter. That’s lowering costs for Starbucks Corp. and J.M. Smucker Co., the maker of Folgers brands. Money managers have stayed bearish for 18 straight weeks.