Coffee Rises to Two-Week High as Dry Weather Lingers in Brazil
An employee spreads Arabica coffee beans to dry at Kwadungan Coffee in Temanggung regency, Central Java, Indonesia.
Photographer: Dimas Ardian/BloombergArabica coffee futures climbed in New York as dry weather in top grower Brazil continues to stoke bullish sentiment.
Prices of arabica, the variety favored by chains such as Starbucks Corp. for specialty brews, climbed as much as 3% to the highest price in two weeks on Friday. Robusta futures in London also gained. The ongoing dry weather, continued decline in certified stockpiles and potential weather-driven fund buying are likely key drivers of the upward price movement, Rabobank analyst Oran van Dort said.