Coffee Jumps Most in Three Weeks as Rains Damage Colombia Crops
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Arabica-coffee futures jumped the most in three weeks as excessive rain hurt crops in Colombia, the second-largest grower.
Flooding has threatened crops, damaged roads and delayed agriculture shipments, the U.S. Department of Agriculture’s Foreign Agricultural Service said on Dec. 10. The unusually heavy rain from a La Nina weather pattern is forecast to last until the first quarter of 2011, the agency said. Prices have surged 60 percent this year, heading for the biggest annual gain since 1994.