Tuesday, 26 April 2011
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Coffee Surges; Orange Juice Tumbles
NEW YORK (TheStreet) -- Coffee futures were popping as speculators wagered on higher prices. Coffee for July delivery was rising 1.9% to $2.96 a pound, up more than 100% over the past 12 months. "In ICE Arabica coffee, the expected smaller Brazilian new season crop and the heavy rainfall in South America prompted speculators to bet on higher prices," said Rabobank analyst Luke Chandler. Heavy
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