Defying Gravity Coffee Surges To 26-Month High On Brazil
date:Apr 24, 2014
utures traded at $2.163 by 4:17 p.m. in Singapore today.

Rising Volatility

Prices have surged 95% this year after the Brazilian drought. Now, excess rain threatens to slow the nations harvest and reduce crop quality, Sao Paulo-based Somar Meteorologia said yesterday.

Expanding drought damage has prompted analysts to lower harvest estimates. Coffees 60-day volatility was near 61, the highest since 2000.

Crop losses may rise as high as 35% in southern Minas Gerais, the leading producer in Braz
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