From Origin

Brazilian Farmers Sold Large Coffee Volumes Before Frosts


CAMPINAS, Brazil, July 11 (Reuters) – Brazilian coffee farmers and cooperatives sold large coffee volumes in the futures markets taking advantage of a spike in prices in anticipation of frosts in producing regions last weekend, according to producers and market operators.

Funds and speculators covered sold positions in New York arabica futures and in London’s robusta market last week with the first forecasts for a strong polar air mass moving to producing regions in Brazil, the world’s largest coffee grower, sending futures to seven-month highs.

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