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Coffee Surges With Sugar as Brazil Heat Wave Threatens Crop Loss

Coffee and sugar futures soared in New York as record-high temperatures triggered supply concerns in Brazil, the world’s top producer and exporter of the crops.

Brazil had the hottest January ever and the least rain for the period in 20 years, according to Marco Antonio dos Santos, an agronomist at Somar Meteorologia. Arabica coffee entered a bull market, up 23 percent from a closing low in November, and raw-sugar prices posted the biggest daily increase in 14 months.