Arabica coffee futures surge to 14-year high on bad weather

Arabica coffee futures hit a nearly 14-year high, as a pound of unroasted beans fetched nearly as much as a cup of brewed gourmet coffee.

Bad weather in Central America and Colombia have kept prices high, with Arabica coffee prices rallying more than 46 percent over the past six months.

The International Coffee Organization has said global supplies likely would rise 9.5 percent this year because of higher forecast output from major grower nations' next harvest.

Original source: Wall Street Journal