Commodity Blog

Coffee gained in New York on speculation that declining production in Colombia and Mexico will increase global demand. Coffee crop in Mexico may be harmed by cold weather. Analysts say that harvest in Columbia will be 9 million bags of coffee beans in the year through September, 26 percent down from June forecast. March futures for Arabica-coffee delivery rose $0.004 (0.3 percent) to $1.435 per pound as of 10:06 on ICE.

Orange-juice futures slid on speculation that warm weather in Florida, the second largest orange grower in the world, is lowering the risk that cold will harm citrus plants. As concern about frost damage recedes volatility is returning to the market. March futures for orange-juice delivery dropped $0.027 (2 percent) to $1.337 per pound by 12:31 on ICE Futures U.S. in New York.

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