Coffee, Sugar Gain With Biggest Crops Under Heat, Dryness Stress
- Concerns grow about Brazil coffee seedlings destroyed by chill
- Sugar demand remains limited in short term, StoneX says
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Coffee and sugar futures extended last week’s gain with high temperatures and dry forecasts for top producer Brazil boosting bulls.
Arabica coffee for December rose 0.3% to $1.8625 a pound on ICE Futures U.S. after advancing 3.7% last week. The beans favored by Starbucks Corp. have rallied almost 60% in the past year. Raw sugar for October added 0.4% to 20.03 cents a pound for a 12-month gain of 53%.