Arabica Coffee Caps Longest Rally in 20 Months
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Coffee futures capped the longest rally in 20 months on concern that a chill may cut output in Brazil, the world’s top exporter.
A cold front overnight sent temperatures as low as 2 degrees Celsius (36 Fahrenheit) in the highlands of southern Minas Gerais, Brazil’s biggest producer of arabica-coffee beans, Somar Meteorologia in Sao Paulo said in a report. While “it’s too early to know if any unprotected trees felt the effects of the cold,” main growing areas were outside the risk zone, the forecaster said.