SOFTS-Arabica coffee regains some ground, sugar and cocoa fall
The attention remained on the amount to which rains anticipated in Brazil will boost blooming in the world’s biggest producer, as Arabica coffee futures on ICE finished higher on Wednesday, reclaiming some ground after plunging by more than 4% the previous session.
COFFEE * December arabica coffee KCc1 rose 1.55 cents, or 0.8 percent, to $1.9345 per pound, regaining some ground after plunging sharply on Tuesday due to forecasts of much-needed rain in Brazil.
* The country’s dry weather have put the flowering of next year’s crop in jeopardy.
* Rains were reported over the weekend in Brazil’s coffee region, and more are expected over the next several days, enhancing the prognosis for next year’s crop blossoming.
