Coffee, Cocoa, Orange Juice Advance; Sugar Declines in New York
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Arabica coffee jumped to a two-week high on concern that output in Brazil, the world’s biggest producer, may drop because of adverse weather. Cocoa and orange juice also rose, while sugar fell.
Frost is possible in coffee-growing regions in Brazil’s Parana state on July 4, Donald Keeney, a meteorologist at MDA EarthSat Weather in Rockville, Maryland, said today. Brazi’s state forecaster earlier this week said the cold already may have done some damage.