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Coffee futures close to 13-year high amid tight supplies until late this year

Monday, August 30, 2010

Coffee futures remain close to a 13-year high, as tight supplies and the prospect of dry weather hurting next year's Brazilian crop have sent roasters scrambling to secure beans.
Roasters are looking for top-quality arabica coffee beans, and supplies from Colombia—the largest producer of the beans—and Central America won't begin hitting the market in earnest until November and December.
Brazil is on pace to harvest a record crop this year, though global demand is also strengthening.
Original source: Wall Street Journal