Coffee Defies Coronavirus Rout With Biggest Rally In 3 Years
From: msn.com
Too much rain in Brazil is fueling the biggest coffee rally in years just as other markets crumble under the weight of coronavirus fears.
Futures of arabica beans, the mild-tasting variety preferred by Starbucks Corp., have gained 13% since U.S. equities began tumbling in mid-February. That’s the best performance among all major commodities tracked by Bloomberg. Most of that advance has come since Friday, with coffee capping its steepest three-day jump since mid 2016.
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