Honduras coffee crops safe after storms in calm New York futures trading
Tuesday, September 28, 2010
Honduras, one of Central America's top coffee producers, said its crops largely survived the weekend's heavy rains from Tropical Storm Matthew, but damaged roads could slow the harvest next month.
Since the crop losses were not expected to be significant in volumes, coffee dealers said the storm did not impact arabica coffee futures trading on ICE Futures U.S. on Monday.
Coffee prices soared to a 13-year top earlier this month, underpinned by fund buying and tight global supplies of washed arabica beans ahead of Colombia and Central America's upcoming growing seasons.
Original source: Reuters