date:Jun 04, 2014
Coffee futures are heading for a bear market after rains eased drought damage for plants in Brazil, the worlds top producer and exporter.
Growers in the nation will harvest 50.5 million bags in the season that starts this year after rains in March and April helped crops recover from a dry spell in the first quarter, according to Mercon Group.
Thats higher than the 49.5 million estimated by the US Department of Agriculture last month.
Futures tumbled 21% from a two-year high in April partly as