(Bloomberg) -- Price swings for arabica coffee are the biggest in nearly two decades with traders nervously tracking the approach of a cold wave that’s threatening global supplies.Futures for the high-end beans have surged 56% this year, making it one of the best performers among commodities.“The market has to be on edge,” said Nick Gentile, managing partner for NickJen Capital Management in New York. “You can’t be short here.”Temperatures will begin to descend in the next 24 hours in southern B
(Bloomberg) -- Raw sugar futures slid and coffee dropped on easing concerns of frost damage to crops in top shipper Brazil.Brazil’s key growing regions for sugar, coffee and oranges are expected to see freezing temperatures on Friday and Saturday. However, current forecasts show the cold front will be preceded by a cloud cover, steering it toward the ocean, according to Michael McDougall, managing director at Paragon Global Markets.“This, at the present time, will mean the front will be less dam
Arabica coffee prices rose 10% more on Monday, after jumping nearly 20% last week, to their highest in nearly seven years as unusual cold weather threatens coffee crops in the world's largest producer Brazil. Coffee trees are extremely sensitive to frost, which can cause severe damage and even kill trees completely. Preliminary estimates from the Brazilian government's food supply agency Conab said that last week's frosts had affected 150,000 to 200,000 hectares - about 11% of the country's total arabica crop area.