Coffee Prices today - Arabica coffee, Cocoa Price january 3 2012 : Arabica coffee climbed in New York to the highest level in more than three weeks as investors bought the futures on speculation prices may have bottomed. Sugar retreated.
The beans traded on ICE futures U.S. gained 3.9 percent yesterday after a vote in the House of Representatives broke a year-long impasse over how to avert $600 billion in tax increases and spending cuts that threatened to send the economy back into recession. Speculators are now closing out bets on lower prices after arabica fell the most in 12 years and was the worst performing commodity in the Standard & Poor’s index of 24 raw materials last year, according to Citigroup Inc.
The beans traded on ICE futures U.S. gained 3.9 percent yesterday after a vote in the House of Representatives broke a year-long impasse over how to avert $600 billion in tax increases and spending cuts that threatened to send the economy back into recession. Speculators are now closing out bets on lower prices after arabica fell the most in 12 years and was the worst performing commodity in the Standard & Poor’s index of 24 raw materials last year, according to Citigroup Inc.
